2/14/2011

Call for Turkish-Saudi cooperation to reach USD 20 billion trade

Dunya - Nihat Ergün, Turkey’s Minister of Industry and Trade, said that a trade volume of USD 20 billion between Turkey and Saudi Arabia is achievable in the medium-term. Ergun, meeting a delegation of Saudi businessmen controlling over USD 300 billion of capital in Jeddah, said that cooperation and partnership culture between the Middle Eastern nations need to be strengthened.

“Prominent countries in the region like Turkey and Saudi Arabia need to have exemplary relationships,” said Ergun, pointing to the fact that although annual trade volume between the two countries rose to USD 4.6 billion in 2010 from 2002’s level of USD 1.3 billion, it has not yet reached the desired level of USD 20 billion, of which the two G-20 countries are capable of.

Ergun said that the goal of USD 20 billion of trade between Turkey and Saudi Arabia would be met in the medium-term and cooperation in fields such as finance, tourism, communications, agriculture and healthcare should be given priority.
turkey; saudi arabia; turkish-saudi; turkey saudi trade volume; nihat ergun; jeddah

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