Saudi EXIM, Indonesia Eximbank Sign Memorandum of Understanding to Boost Trade

The Saudi Export-Import Bank (Saudi EXIM) signed a memorandum of understanding with the Indonesia Eximbank to establish guiding principles for strengthening cooperation and fostering trade between the two countries.
Minister of Industry and Mineral Resources and Chairman of the Board of Directors of the Saudi EXIM Bandar AlKhorayef attended the signing ceremony.
The MoU was signed by Saudi EXIM CEO Eng. Saad AlKhalb and Indonesia Eximbank Acting Executive Director Sukatmo Padmosukarso, during the official visit of AlKhorayef to the Republic of Indonesia, aimed at exploring areas of collaboration and boosting economic and trade ties.
The agreement outlines multiple areas of cooperation, including encouraging business engagement between Saudi and Indonesian companies, exploring opportunities to support joint projects, promoting the exchange of information and best practices related to export credit policies, and collaborating on the development of new export products.
Commenting on the occasion, AlKhalb stated: “This MoU marks a significant step toward improving export and import efficiency and facilitating bilateral trade. It also reflects our commitment to enhancing partnerships and commercial exchange between the two countries. The agreement will serve as a catalyst for trade development and joint investment projects across various sectors. At Saudi EXIM, we are committed to encouraging Saudi exporters to seize promising investment opportunities, and are fully dedicated to enabling the export of Saudi non-oil products to the Indonesian market.”
Padmosukarso said: “We aim to partner in addressing global challenges, especially climate change. Indonesia is committed to achieving Net Zero Emissions by 2060, while Saudi Arabia’s Vision 2030 shares a similar ambition. There is strong potential for collaboration in green finance, halal trade, and strategic infrastructure development. This MoU is more than a ceremonial step—it marks the beginning of real, actionable cooperation. We hope to soon realize joint projects in renewable energy, co-financing, and export ventures, supported by dedicated teams from both sides.”
During the visit, Saudi EXIM also held several meetings with representatives from export credit agencies, financial institutions, and trade organizations in Indonesia to expand trade prospects, strengthen economic cooperation, and support local exporters in scaling their international operations, thereby enhancing the global reach of Saudi non-oil exports.
As a developmental institution under the National Development Fund, Saudi EXIM Bank plays an essential role in supporting the Kingdom’s efforts to diversify its economic base. By strengthening the export ecosystem for Saudi non-oil products and services, bridging financing gaps, and mitigating export risks, the bank significantly contributes to Vision 2030 objectives of achieving sustainable economic growth.