\u00a0Dr. Muhammad Al-Katiri, Deputy Minister of Commerce and Industry for Foreign Trade, highlighted the commercial relations between the Kingdom and Turkey, emphasizing that they are rooted in the political, economic, and even fraternal ties that have bound the two countries for many years.
\n In a press statement, \u201dAl-Kathiri\u201d emphasized that the Kingdom and Turkey share many common political and economic interests and are active members of numerous trade- and economy-related organizations, such as the G20 and the World Trade Organization, and the Standing Committee on Economic and Commercial Cooperation (COMCEC) of the Organization of Islamic Cooperation, with Turkey chairing this committee and the Kingdom serving as vice-chair. This committee monitors the implementation of decisions related to the economy and trade, explores possible ways to strengthen cooperation among member states, and prepares programs and projects that enable the development of competencies and capabilities in these two areas.
\n Regarding the volume of trade between the two countries, Al-Kathiri said that in 2011 it reached approximately 21,747 million riyals, of which 12,555 million riyals were exports from the Kingdom to Turkey and 9,192 million riyals were imports from Turkey, compared to 2006, when the volume of trade was 10,954 million riyals\u2014meaning it doubled over the course of five years.The number of joint ventures also reached 159, including 41 industrial projects and 118 non-industrial projects, with an estimated invested capital of 586.14 million riyals, of which the Saudi partner\u2019s share was 219.54 million riyals, while the Turkish partner\u2019s share was 326.86 million riyals, with the remainder going to other partners. He added that to strengthen these relations and enhance cooperation between the two countries, a joint committee was formed in 1394 AH, which has held ten sessions, the most recent of which took place in 1432 AH in Riyadh. The Ministry of Commerce and Industry chaired the Saudi side of this committee until the Council of Ministers issued a decision to transfer the chairmanship of the Saudi side to the Ministry of Transportation.
\nIt should be noted that a Saudi-Turkish Business Council, composed of business leaders from both countries, is working jointly to support and promote trade relations between the two nations by capitalizing on available opportunities and establishing joint ventures. In addition, several agreements have been signed, including a trade cooperation agreement, a technical and economic cooperation agreement, and an agreement on the exchange of tax exemptions on investment income from trucks and air transport companies affiliated with both countries.<\/p>","protected":false},"excerpt":{"rendered":"
Reading time: <\/span> 2<\/span> Minutes<\/span><\/span>\u00a0Dr. Muhammad Al-Kathiri, Deputy Minister of Commerce and Industry for Foreign Trade, highlighted the commercial relations between the Kingdom and Turkey, emphasizing that they are rooted in the political, economic, and even fraternal ties that have united the two countries for many years. In a press statement, Al-Katiri emphasized that the Kingdom and Turkey share many common political and economic interests and are active members of numerous \u2026 Read more<\/a><\/p>","protected":false},"author":34,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"0","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","_seopress_news_disabled":"","_seopress_video_disabled":"","_seopress_video":[],"_seopress_pro_schemas_manual":[],"_seopress_pro_rich_snippets_disable_all":"","_seopress_pro_rich_snippets_disable":[],"_seopress_pro_schemas":[],"footnotes":""},"categories":[120],"tags":[],"class_list":["post-1133","post","type-post","status-publish","format-standard","hentry","category-capital-markets"],"acf":{"amlak_post_excerpt":"","amlak_post_excerpt_source":{"label":"Amlak post excerpt","type":"text","formatted_value":""}},"featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","trp-custom-language-flag":"","event-thumbnail":"","event-medium":"","event-large":"","event-hero":""},"author_info":{"info":["\u0627\u0645\u0644\u0627\u0643 \u0627\u0644\u0639\u0642\u0627\u0631\u064a\u0629"]},"category_info":"\u0623\u0633\u0648\u0627\u0642 \u0627\u0644\u0645\u0627\u0644<\/a>","tag_info":"\u0623\u0633\u0648\u0627\u0642 \u0627\u0644\u0645\u0627\u0644","comment_count":"0","_links":{"self":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/1133","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/comments?post=1133"}],"version-history":[{"count":0,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/1133\/revisions"}],"wp:attachment":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/media?parent=1133"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/categories?post=1133"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/tags?post=1133"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}