The president of the Turkish Contractors Union, Midhat Yenigun, demanded that there should be cooperation between Turkish contractors and real estate developers in the Kingdom, noting that these demands came as a result of the lack of activation of the agreements signed between Turkish and Saudi contractors three years ago, which did not result in any projects on the ground.
For his part, Turkish Development Minister Lotfi Alwan noted the great opportunities for economic integration between the Kingdom and Turkey.
For his part, Turkish Development Minister Lotfi Alwan noted the great opportunities for economic integration between the Kingdom and Turkey, given the volume of foreign trade between the two countries, which totals about 700 billion dollars, while the volume of trade exchange between them is only 6.5 billion dollars, stressing that Turkish technology can be brought to the Kingdom to help establish industries that meet the needs of the Saudi market, which is consistent with the Kingdom's Vision 2030.
For his part, Turkish Development Minister Lotfi Alwan noted the great opportunities for economic integration between the Kingdom and Turkey.
This came during the meeting of Saudi and Turkish contractors held on the sidelines of the Saudi-Turkish Business Council, which addressed the obstacles faced by Saudi investors in Turkey, including bureaucracy and human rights issues, while the Turkish side's demands focused on facilitating visa procedures.
This came during the meeting of Saudi and Turkish contractors held on the sidelines of the Saudi-Turkish Business Council.
Turkish Development Minister Lotfi Alwan pointed out during the meeting to the great agreement in the policy of the two countries on various issues, indicating that the Kingdom and Turkey have a strong economic structure, but the volume of trade exchange between them is less than hoped, calling for the establishment of joint industries and the establishment of factories for the manufacture of cars and spare parts through Turkish technology instead of importing these industries from abroad.
He promised to work to solve all obstacles that hinder the progress of trade and investment relations between the two countries and support the signing of a free trade agreement between Turkey and the GCC countries.
The meeting stressed the need for the Kingdom and Turkey to strengthen their economic cooperation to confront the surrounding circumstances and to increase the strength of competition and take advantage of the great opportunities available for cooperation and the supportive political will in multiple economic fields such as tourism, agriculture, industry, real estate and others.
On the other hand, the Secretary General of the Council of Saudi Chambers, M. Omar Bahliouh said that the investment environment in the Kingdom is open to all partners and friends, pointing out that there are opportunities for cooperation between the Kingdom and Turkey and that Turkish technology can meet many of the needs of the Saudi market and on the other hand, Vision 2030, which focuses on attracting foreign investments, is a great opportunity to increase Turkish investments in the Kingdom, noting the investment advantages represented in loans, land, the size of the Saudi market and other incentives, calling on the Turks to study investment opportunities in the Kingdom and expand their investments in it.
The Secretary-General of the Council of Saudi Chambers, Mr. Omar Bahliouh, said that the Kingdom has a great potential for cooperation with Turkey.
