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Saudi-Turkish business bridge launched

13. January 2012. | 08:12 08:14

Source: ANSAmed

Turkey's Deputy Prime Minister Ali Babacan and Chairman of the Jeddah Chamber of Commerce and Industry (JCCI) Saleh Kamel launched a bridge for business and investments between Saudi Arabia and Turkey in Jeddah on Wednesday, as ArabNews.com reports.

Turkey's Deputy Prime Minister Ali Babacan and Chairman of the Jeddah Chamber of Commerce and Industry (JCCI) Saleh Kamel launched a bridge for business and investments between Saudi Arabia and Turkey in Jeddah on Wednesday, as ArabNews.com reports.

The launch took place at a meeting of a Turkish business delegation led by Babacan and Saudi businessmen organized by the JCCI. "One of the major features that makes Saudi Arabia attractive to investors abroad is its prompt response to international and regional economic developments.

This fact has been attested by the Kingdom's spectacular jump in international business ratings," Babacan said, commending the business-friendly atmosphere in the Kingdom. Babacan said the members of the Turkish delegation were specialized in areas of textiles, ready-made clothes, leather, construction and construction materials, infrastructure, property development, copper, plastic, iron and steel pipes, energy, natural gas, solar energy and packing.

The delegation also represented investment companies in agriculture, mining, fertilizers, furniture, doors, carpets, glass and timber. Besides, the delegation is interested in investments in foreign trade, retail trade and cattle, poultry and fish farms, paper industry, printing, publication, promotion, and banking besides areas of medicine, cosmetics, electrical appliances, automobile spare part, food material and vegetable oil. While Saudi Arabia exported 2.4 billion USD worth of products,

Turkey's export to the Kingdom stood at 2.1 billion USD, Saleh Kamel said adding that with Saudi investments in 200 companies in Turkey, the Kingdom had taken a front position among foreign investors in Turkey.

The Kingdom aims to construct six economic cities that would contribute 150 billion USD to GDP and create 1.5 million job opportunities in 2020, as Kamel said.

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