RIYADH: Trade between Saudi Arabia and Brazil is poised to expand following a new agreement between their banks aimed at boosting cooperation and increasing non-oil exports. The memorandum of understanding, signed by Saudi EXIM and the Brazilian Development Bank, seeks to explore joint financing opportunities and facilitate information exchange. This partnership is set to strengthen economic ties and broaden trade relations, with a particular focus on enhancing Saudi non-oil exports to the South American market, according to a press release.