Turkish Industry & Trade Minister Nihat Ergun, who is in Saudi Arabia for talks, addressed Saturday top executives of Saudi companies that control $300 billion and urged better commercial ties with Turkish companies.
"Economic relations between Turkey and Saudi Arabia is not at a desired level. Our trade volume in 2002 was $1.3 billion. In 2010, it reached $4.6 billion. However, it is not possible to economically explain such a low trade between two large G20 economies," Ergun said.
"We think we can hit a $20 billion trade in the medium run," he told Saudi businessmen.
Saudi Arabia imports mostly machinery, food, chemicals, motor vehicles and textile products, which are Turkey's main export items.
Ergun called on Saudi companies to prefer Turkey instead of China, Japan and United States. He also said Turkish and Saudi companies could work together especially in finance, tourism, communication, agriculture and health industries.
Turkey is one of the most competitive countries in a vast geography from Italy to China, Ergun said, adding, "if you want to do business without making any concessions on high quality, Turkey is the right address."
Ergun also met Ekmeleddin Ihsanoglu, Secretary-General of the Organization of Islamic Conference (OIC), in Saudi Arabia on Saturday.
The meeting took place at OIC headquarters in Jeddah. Ergun and Ihsanoglu discussed regional issues, officials said.
After his meeting with Ihsanoglu, Ergun had a meeting with Islamic Development Bank's President Ahmed Mohammed Ali and Vice President Ahmet Tiktik.
The meeting focused on ways to improve cooperation between Turkey and the Bank, officials said.
AALast Mod: 13 Şubat 2011, 16:05