17/02/2014
The balance of trade between the two countries achieved more than 39 billion riyals
German trade delegation meets with businessmen in Eastern Chamber in Jubail branch
The German industry and commerce Commissioner in Saudi Arabia, Bahrain and Yemen Andreas hergin stressed on the strong economic and commercial ties between Saudi Arabia and Germany, which has made Germany one of the major trading partners of the Kingdom. Hergin said during the meeting the German delegation organized by the East Chamber on Monday morning 17 Feb 2014 in its branch in Jubail and witnessed a remarkable number of businessmen that the two countries ' relations are subject to numerous conventions and memorandums, including a memorandum of understanding for technical cooperation, industrial and economic 'by which the parties will implement the economic cooperation, industrial and technology between their two countries with common interests. Hergin, who said that Germany has a huge diversified industrial structure in key industries, including steel and iron industries, cars, planes, cement, chemicals, electronics, shipbuilding, metals, machinery, food products, and other industries, the most important natural sources in Germany: coal, natural gas, iron ore, copper, nickel, uranium, and salt.
And during the meeting which saw hergin bilateral meetings for businessmen of the two countries, the balance of trade between the two sides achieved a surplus for Germany estimated 39.989 billion in 2012. And on trade, said that the total value of Hergin merchandise exports to Germany amounted to approximately 1416.2 billion dollars in 2012. It occupies the third place in ranking of exporters in the world, in the same year, and the growth rate of exports from Saudi Arabia to Germany in 2012 by about 11.7 from the previous year. And Germany's exports to the world are varied, the most important value: Auto, pharmaceuticals, aircraft and spacecraft (including satellites) and non-crude petroleum oils, vaccines, and other components of immunological products. Imported from Germany worth about 0.8 of the total value of imports by importing States of Germany, In 2012, the total value of merchandise imports to Germany from the world around 1173.3 billion dollars in 2012. It ranks fourth in order of importers in the world, in the same year. Germany imports vary from the world, the most important value: oils, crude oil, gas, oil and gas, hydrocarbons, non-crude petroleum oils, medicines, and other products have also been issued to Germany about 0.2 of total value of exports of the countries exporting to Germany, in 2012. The East Chamber was provided through investment and a resettlement Center reviews the current investment opportunities for German companies targeted in addition to the facilities provided by the Kingdom to foreign invested companies.
