Saudi minister: It is time to boost mutual trade
Posted by meb at November 28th, 2008
Saudi Arabian Transportation Minister Jubarah Suraysri said on Wednesday that there is a positive atmosphere to boost commerce between Turkey and Saudi Arabia.
Speaking at a meeting of the Turkish-Saudi Arabian Business Council in İstanbul, Suraysri stressed that both Turkey and Saudi Arabia possessed the political will and the necessary economic conditions to promote commercial links. “There is the right climate for boosting trade among Turkey and Saudi Arabia. The private sector in both countries is very strong and presents many opportunities,” Suraysri said. “Saudi Arabia has well-established infrastructure. There are projects to develop railways in Saudi Arabia. Such projects can help boost economic relations with Turkey and lower transportation costs,” Suraysri also said. The visiting minister went on to say they will do their best to increase cooperation and establish trade partnerships with Turkey, underlining that they expected the same effort from Turkey. “We have promised to take initiatives, now it is your turn. We trust you and know that you will not let us down,” he said, addressing Turkish businessmen. Turkey’s Foreign Economic Relations Board (DEİK) Chairman Rona Yırcalı said foreign capital entering Turkey during the last three years amounted to more than $40 billion but that Saudi Arabia’s share of that was very small. Yırcalı noted that Turkish entrepreneurs faced problems when entering Saudi markets and that it was of the utmost importance for the Saudi government to remove bureaucratic obstacles for foreign investors.
source: Today’s Zaman
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