Turkey and Saudi Arabia sign JEC protocol

Simsek said that he would attend Economic Forum in Jeddah on March 12 and 13 which would also be participated by Erdogan.

Turkey and Saudi Arabia sign JEC protocol

Turkey and Saudi Arabia signed Joint Economic Commission (JEC) protocol in Riyadh on Tuesday.

Turkish Finance Minister Mehmet Simsek and Saudi Arabian Transportation Minister Jubarah bin Eid al-Suraysiri signed the protocol.

Speaking at the signing ceremony, Simsek said that Turkey and Saudi Arabia would assess the business opportunities in third countries together, and the two countries would make cooperation in many areas.

Noting that Saudi Arabia was on the 15th rank in terms of making easy business, Simsek said that Saudi Arabia gave permission to Turkey's Ziraat Bankasi to open a branch in that country, which was very important too.

Simsek said that under the JEC protocol, Turkey's Privatization Administration, Southeastern Anatolia Project (GAP) Administration and Investment Support & Promotion Agency would introduce investment opportunities to Saudi Arabian businessmen in Turkey as well as organize a program to draw Saudi capital more in Turkey.

Noting that big projects in construction and contracting sectors had been initiated in Saudi Arabia in recent years, Simsek said that the projects, which would be completed by 2020, were expected to worth 700 billion USD.

We conveyed to Saudi party that Turks are ready to give technical consultation for the investment projects in that country, added Simsek.

Simsek said that also an important step was taken about food sector thanks to the protocol, adding that Saudi Arabia would allow white meat import from Turkey.

The two countries would cooperate in energy area too, said Simsek, adding that Turkish and Saudi officials would hold technical meetings, and discuss energy cooperation opportunities.

Meanwhile, Simsek announced that he would attend Economic Forum in Jeddah on March 12 and 13 which would also be participated by Turkish Premier Recep Tayyip Erdogan.


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Last Mod: 26 Ocak 2011, 11:04
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