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Turkey and Saudi Arabia Sign 8 Joint Business Agreements

: 2016-12-01

Turkey and Saudi Arabia Sign 8 Joint Business Agreements
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Dr. Majed Bin Abdullah Alkassabi, the Minister of Investment of Saudi Arabia, said: "We will try in all the extreme ways (expressing it by the general mobilization) and employ all the ministries and institutions to increase the investment relations in the Kingdom of Saudi Arabia," pointing out that Turkey is the strategic and ideal partner and ally of the Kingdom.

After Mr. Alkassabi saluting and congratulating the Turkish people for overcoming that emerging crisis and standing unitedly in Turkey's squares and yards on 15 July, he opened his speech calling Allah to bless Turkey and save its economy, progress, stability, and security.

He continued saying: "We want to be part of the problem itself and part of the solution itself, not just part of the solution; as the human being is the cause of any problem, he is also part of the solution. Despite all the difficulties and obstacles, let's find a solution and overcome those obstacles. I want to ask you to prepare ideas and plans for the Saudi-Turkish business council during the next two years, explaining the priorities of this council through the two years; the most important of those priorities is to increase mutual investment between Turkey and Saudi Arabia, and we will do everything we can to employ the potential of all ministries and institutions to increase the investment relations in Saudi Arabia."

Mr. Alkassabi continued addressing the entrance visa issue of the Turkish businessmen by saying: "There will be facilities and speed in the issuing of visas for the Turk businessmen, and these visas will provide their holders multiple incomes for the kingdom, and inevitably, these visas will be for free and totally sponsored by Saudi Arabia, and this will be carried out at the maximum speed and it would be benefit to the Turk businessmen."

In his turn, Mr. Yusuf Jawaher said that the two countries could conducted agreements for joint projects with other third-country agreements, adding, "In the first place, the Saudi Turkish Cooperation Council has to establish an institution for consulting and engineering in order to engineer our projects by the hands of our engineers here, not in other countries. We will also make using our raw materials, supplies, and local products something indispensable and binding in the contracts and agreements of the projects, and we will work using what we develop and build by our own hands."

Work Fields:

Mr. Mazen Rajab, chairman of the Saudi-Turkish business council, said that the mutual foreign trade agreement between the two countries amounted to 6 billion US dollars.

He explained saying: "The Saudi businessmen's investments in various fields and sectors will be of a benefit for both countries. And we established in the Kingdom of Saudi Arabia many real estate projects in conjunction with the Turk businessmen. Moreover, we are now working on medical supplies and tools manufacturing in the Kingdom of Saudi Arabia, besides working in automotive and the renewable energy manufacturing, to coincide with our interests in the natural resources."

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