Riyadh: The Saudi Export-Import Bank (Saudi EXIM Bank) and Chilean Foreign Investment Promotion Agency (InvestChile) have signed a memorandum of understanding to strengthen cooperation and commercial ties, promote Saudi exports and investments in Chile, and increase non-oil Saudi exports to Chilean markets.

The agreement was signed by Saudi EXIM Bank CEO Eng. Saad Alkhalb and InvestChile representative on the sidelines of a Saudi-Chilean investment roundtable in Santiago, Chile.

Alkhalb stressed that the memorandum is a major advancement in fostering economic and trade relations, collaborative investment initiatives, and increased opportunities for cooperation between commercial enterprises and financial institutions in the two countries.

He also underscored the significance of the Chilean market for local Saudi exporters and expressed hope that the agreement will boost non-oil Saudi exports, and the increasingly diversified and expanding Saudi markets.