By Mucahithan Avcioglu
ISTANBUL (AA) - Türkiye’s export credit bank Turk Eximbank signed a financing deal with the Saudi Eximbank on Thursday to increase the trade volume between the two countries and provide new financing to exporters.
The exporting companies will be offered favorable financing options to meet their raw material needs for non-oil products originating from Saudi Arabia, while also benefiting from financing support with maturities of up to two years and competitive pricing, according to a statement from Turk Eximbank.
The agreement carries strategic importance in terms of boosting the trade volume between Türkiye and Saudi Arabia, strengthening the competitiveness of Turkish companies in foreign trade activities, and facilitating exporters’ access to financing.
The financing opportunities are expected to make a significant contribution, particularly to medium- and large-scale companies operating in export-oriented sectors such as industry, textiles, machinery, chemicals, and food.
Through this agreement, exporters will be able to finance the procurement of raw materials and semi-finished goods needed in their production processes at favorable costs.