21/04/2014
Volume of trade exchange between the two countries reached about 30 billion riyals
Oteishan: Tax policy of openness behind the growth of economic Saudi -Turkish relations
The Chamber's Chairman Abdulrahman bin Saleh Al-otaishan praised the growth and development of business relations between Saudi Arabia and Turkey. A reference to the opening of the Turkish Government's economic policy, which was an incentive to attract more foreign investment, Saudi Arabia in particular. Otaishan said during a gathering of businessmen with a Turkish delegation represents the investment support and promotion agency of Turkey on Thursday morning that the official statistics indicate that trade between the two countries has reached about 30 billion, with imports from Turkey about 13.4 billion riyals, while Saudi Arabia's exports to Turkey about 16.2 billion.
He said: ' the open policy in Turkey contributed significantly to attracting foreign investment, and Saudi Arabia in particular, tax reforms package in the area of foreign investment led to an increase in investments of Saudi businessmen in Turkey in the past, will encourage companies to pump more investments in Turkey, which spread to various economic sectors, such as real estate, infrastructure, agriculture and the banking sector. As Turkey has become a destination for a large number of Saudi tourists to Turkey and who have reached their numbers to about half a million tourists, making Turkey more attractive to tourists, Saudis, Alotaishan said: ' we are, in this context, we appreciate the Turkish decision except GCC from taxes on investments, which will have a significant role in attracting Saudi investments in Turkey.
Al otaishan said to the internal economic situation and said that Saudi Arabia has made strides in encouraging foreign investment, which has in recent years to amend the foreign investment regime and worked to provide various incentives and facilities to attract more foreign investment to the Kingdom including the provision of facilities in relation to licenses and company registration procedures in cooperation with relevant government agencies. There is no doubt that these facilities will make conditions favorable to investment partnerships and relations between Turkish and Saudi companies. It will open new horizons to the Saudi investor by facilitating communication with Turkish investors'
Alotaishan said that the eastern region has a number of economic advantages that characterize, in the last 25 years a qualitative leap in the industrial sector in its various forms, which is evolving year after year thanks to the region's infrastructure at all areas where acquires approximately more than half the industrial investment in the Kingdom. Home energy and industrial giants, Saudi Aramco company, SABIC, are two main arteries that feed the world with various industries, in addition to embracing the region for a variety of large corporations and other petrochemical and mining industries at Jubail Industrial City and civil or good, and these industries in Eastern region effectively contribute to the industrial Renaissance Kingdom with the support of the Government of the custodian of the follow-up and ongoing guidance from the Governor of the Eastern province to contribute to the development of this region.
The Turkish delegation has visited the East Chamber headed by Chief Adviser and representative of the investment support and promotion agency of Turkey in Riyadh Mustafa Cox, accompanied by a number of specialists and advisors who came to Saudi businessmen attending the meeting about the investment opportunities in Turkey, the facilities and incentives offered by the Turkish Government to encourage foreign investors, provided an introduction to the activities of investment support and promotion agency of the Republic of Turkey Prime Ministry directly.
