Jeddah, Saudi Arabia – The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), and Saudi Pak Industrial and Agricultural Investment Company Limited (SAPICO) signed a deal to bolster trade and investment flows, local media reports said.
The ICIEC is a member of the Islamic Development Bank (IsDB) Group and a leading Shariah-compliant multilateral insurer.
ICIEC CEO Oussama Kaissi and SAPICO CEO Rizwan Ahmed signed the MoU, setting the stage for a strategic partnership that aims to facilitate trade and investment initiatives within the SAPICO joint venture.
Kaissi stated: “This MoU is a testament to our dedication to bolstering trade and investment between our member states Saudi Arabia and Pakistan.”
“By consolidating our resources, expertise and strengths, we set the stage for enhanced trade and investment avenues with the potential to bring about significant positive transformations to both economies,” he added.
“Our alliance with SAPICO is a source of great enthusiasm, and our resolve to achieve shared success in our collaborative efforts is steadfast,” he remarked.
This partnership aligns with both parties’ shared vision of fostering international trade and economic development, and enhancing cooperation between their countries.