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• Saudi Arabia to Invest $400 Billion in Turkiye

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  Rabia Rahimbayeva    Group moderator   Ambassador

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  Saudi Arabia to Invest $400 Billion in Turkiye

  Saudi Arabia's Finance Minister Ibrahim Abdul Aziz al-Assaf says the kingdom will invest USD 400 billion in Turkiye over the next four years.
  
  Assaf made the remarks at a joint news conference with the Turkish Finance Minister Mehmet Simsek in Ankara on Thursday, adding that the two countries planned to organize a forum for joint investments.
  
  He said that the governments of the two states should provide opportunities for the private sector to use great potentials in the economy and commerce spheres.
  
  Assaf noted that Turkey and Saudi Arabia were determined to boost their bilateral trade volume up to 10 billion dollars.
  
  For his part, Simsek said Turkiye wants to draw funds from the Persian Gulf countries to finance its deficit.
  
  "The Gulf is a region which has current account surplus. Turkiye on the other hand is a dynamic fast growing country which relatively has a savings gap. Turkiye and the Persian Gulf region can complement each other," said Simsek.
  
  Source: MGH/MMN
  
  • 02 Apr 2010, 07:39 am
  Rabia Rahimbayeva wrote: > Saudi Arabia's Finance Minister Ibrahim Abdul Aziz al-Assaf says the > kingdom will invest USD 400 billion in Turkiye over the next four > years. > > Assaf made the remarks at a joint news conference with the Turkish > Finance Minister Mehmet Simsek in Ankara on Thursday, adding that the > two countries planned to organize a forum for joint investments. > > He said that the governments of the two states should provide > opportunities for the private sector to use great potentials in the > economy and commerce spheres. > > Assaf noted that Turkey and Saudi Arabia were determined to boost > their bilateral trade volume up to 10 billion dollars. > > For his part, Simsek said Turkiye wants to draw funds from the > Persian Gulf countries to finance its deficit. > > "The Gulf is a region which has current account surplus. Turkiye on > the other hand is a dynamic fast growing country which relatively has > a savings gap. Turkiye and the Persian Gulf region can complement > each other," said Simsek. > > Source: MGH/MMN