Export development is an effective way for the development of the small and medium enterprises sector in Saudi Arabia.

The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group, the Saudi Export-Import Bank (EXIM Saudi), and the General Authority for Small and Medium Enterprises (Monsha’at), signed a tripartite memorandum of understanding in April 2022 to launch the Small and Medium Enterprises Development Program in KSA.

The memorandum of understanding was signed by the CEO of the International Islamic Trade Finance Corporation, the CEO of the Saudi Export-Import Bank, and the governor of facilities. The MoU provides a framework for cooperation in developing and implementing programs to support small and medium enterprises in the Kingdom of Saudi Arabia.

Program objectives

Within the framework of the cooperation agreed upon in the tripartite memorandum of understanding and guided by the objectives of the Kingdom's Vision 2030 for SMEs, the general objective of the program is to enhance the competitiveness of Saudi SMEs to reach international markets. The program also includes other major objectives, such as:

Building and developing export capabilities for SMEs

Expanding the reach of the SMEs to international markets

Improving Saudi SMEs access to finance

Program components

Developing export capabilities for SMEs

This component will use self-learning and e-learning content in International Business and Management developed by Monsha’at. It will also include conducting seminars and activities on topics related to export development. This process will be complemented by training workshops for a smaller group of selected exporters, according to priority sectors. This component will facilitate the provision of advisory services to SMEs by ITFC through Monsha’at platforms.

Market access activities

This component will include giving selected Saudi SMEs the opportunity to benefit from business-meeting and trade-enhancement activities, particularly those led by ITFC, such as missions and trade fairs. The market access component could also include digital market awareness.

Export financing

The export financing component will focus on raising awareness of the available export financing services offered by the Saudi Export and Export Bank. The component will also include identifying potential partner banks in selected exporting countries to facilitate Saudi exports to those countries. ITFC will lead the expanded line of financing for selected banks in the target export countries for Saudi SMEs.

Communication strategy

The communication strategy component will aim to develop an integrated communications plan that includes branding, media and public relations, digital and social media, as well as the production of digital and print marketing and knowledge materials. The purpose of this strategy is to raise awareness of the objectives and activities of SMEs in Saudi Arabia among the business community and other stakeholders. ITFC will lead the communication strategy in support of partners.

Various activities

Capacity Building

    • General

    • SMEs relationship management
    • Providing advisory services to SMEs through the Monsha'at platform

    • For companies

    • Using self-paced online learning materials for international business
    • Organizing live seminars for an overview of exports
    • Conducting E-Commerce Training
    • Organizing a workshop for training in export development

    • Ways to export

    • Choosing the participating SMEs
    • Organizing a Workshop for SMEs
    • Sector-based groupings of participating SMEs (3-5 sectors, 3-5 countries)
    • Conducting the merger process for the selected companies

Market access

  • Relationship management with partners and SMEs

  • Invite Saudi SMEs to business matching activities

  • Inviting SMEs to exhibitions and trade events

  • Assisting Saudi SMEs' trade missions

Export financing

  • SMEs relationship management

  • Organizing seminars on Saudi EXIM trade finance products

  • Prioritize 3-5 export countries or sectors

  • Determine which banks from the aforementioned countries will be chosen to expand the line of credit

  • Approving the first joint line's financing

Communication strategy

  • Developing the brand program

  • Developing a comprehensive communication strategy to promote the program Additionally, it creates promotional materials to inform SMEs about the features of the program, such as available export financing products, preferential treatment for program participants, and options for capacity development.

  • Media and public relations

Program Partners

International Islamic Trade Finance Corporation ( ITFC)

Saudi EXIM Bank

Small & Medium Enterprises General Authority ( Monsha’at )

Saudi Export Development Authority

تواصل معنا