Turkey, Saudi Arabia sign economy protocol to boost trade and investment

[-SINAN-]

Deputy Prime Minister Bekir Bozdağ and Saudi Arabian Minister of Transportation Jubarah bin Eid Al-Suraiseri signed the Mixed Economy Commission Protocol on Wednesday to enhance economic relations.

“We want to increase trade and economic relations to the highest level between Turkey and Saudi Arabia, which share the same cultural and religious values. We have established good relations in every area with Saudi Arabia, the most populous country in the Gulf region,” said Bozdağ during his speech at the signing ceremony, held at the Ministry of Economy in Ankara.

Stressing that Turkey and Saudi Arabia are the leading countries in the region having a combined gross domestic product (GDP) of almost $1.4 trillion, export volume of $540 billion and population of 105 million, Bozdağ said: “We [Turkey and Saudi Arabia] have the capacity to contribute to the peace and stability of the region. Turkey sees its friend Saudi Arabia as one of the most important countries in the region.”

Bozdağ also made the case for increasing trade volume between Turkey and Saudi Arabia. “Turkey's share of imports to Saudi Arabia constitutes only 3 percent; this number falls behind the potential. Our target should be to increase the trade volume between the two countries to $20 billion in the next five years,” said Bozdağ.

In his speech, Al-Suraiseri highlighted that the trade volume between the two countries is increasing steadily despite the turmoil in Middle East. “The steady increase in the trade volume shows that we are on the right track. Both countries have significant opportunities for increasing mutual investment,” said Al-Suraiseri.

Video of the sign of the protocol

 

[Arabian Legend]

Great news, I hope to see more and more cooperation on all levels b/t both countries especially in the field of military.

Thankx for sharing Sinan.

 

[Bubblegum Crisis]

 

Great news, I hope to see more and more cooperation on all levels b/t both countries especially in the field of military.

Thankx for sharing Sinan.

No problem brother. It is just a certainty.

 

[-SINAN-]

Great news, I hope to see more and more cooperation on all levels b/t both countries especially in the field of military.

Thankx for sharing Sinan.

I see a great potential in the future KSA - Turkey alliance. Combined GDP of $1.4 trillion, possible co-development and co-production of defence products, etc..

These developments between our countries makes me excited.

 

[cabatli_53]

-Otokar Arma tested on Saudi Arbian deserts.
-Roketsan carried out succesfull firing trials of Cirit semi active lazer and UMTAS-L long range Anti-Tank Missile system for Saudi officials. According to sources, A deal is expected to be signed in following months.
-T-155 Firtina Self Propelled Howitzer tested on Saudi Arabia. According to some sources, Firtina Deal has already signed.

-Saudi Arabia signed a deal to order 4 ANKA UAV.
-Saudi Arabia and Turkey is talking for Altay MBT as well.

 

[Yzd Khalifa]

Interestingly, the news came out at the moment whereby the EU announced that it will resume talks with Turkey over her controversial proposal to join the EU.

http://abcnews.go.com/International...r-hiatus-20786833?ref=https://www.google.com/

 

[Cyberian]

... Turkey and Saudi Arabia are the leading countries in the region having a combined gross domestic product (GDP) of almost $1.4 trillion, export volume of $540 billion and population of 105 million ...

Subhan'Allah. That's never occurred to me before.

 

[-SINAN-]

Interestingly, the news came out at the moment whereby the EU announced that it will resume talks with Turkey over her controversial proposal to join the EU.

http://abcnews.go.com/International/t/story/eu-turkey-resume-talks-year-hiatus-20786833?ref=https://www.google.com/

Mate, while the Cyprus issue is still on the table, these talks are destined to fail. EU always wants Turkey to compromise. I don't think our future lies in Europe.

 

[xenon54 out]

Mate, while the Cyprus issue is still on the table, these talks are destined to fail. EU always wants Turkey to compromise. I don't think our future lies in Europe.

Our future is there where we are today, relations with East and West.
We are allready in a big organisation called NATO which is more than enough for our security.

 

[-SINAN-]

Our future is there where we are today, relations with East and West.
We are allready in a big organisation called NATO which is more than enough for our security.

Exactly, what i'm trying to say. Relations with West is okay, trading with West is okay... but you know how they act when it comes to EU membership.

 

[Yzd Khalifa]

Our future is there where we are today, relations with East and West.
We are allready in a big organisation called NATO which is more than enough for our security.

Our future is there where we are today

Your future lies in no one's hand but the Turkish people. Claiming that your future lies here and there is crazily unacceptable

relations with East and West.

Relations are different from where you future falls into.

We are allready in a big organisation called NATO which is more than enough for our security.

NATO isn't the subject we are discussing. Asserting it into economic and politics won't change your " future " ..

If NATO could have guaranteed some countries' futures then I wonder why many EU nations are sinking in debit.

Exactly, what i'm trying to say. Relations with West is okay, trading with West is okay... but you know how they act when it comes to EU membership.

Turkey being denied a seat in the EU isn't the end of the world. There are other alternatives which probably can boost your economy greater than what you expect.

 

[xenon54 out]

NATO isn't the subject we are discussing. Asserting it into economic and politics won't change your " future " ..

If NATO could have guaranteed some countries' futures then I wonder why many EU nations are sinking in debit.

Ofcourse Nato is not a guarantee for Economy, what i mean is our Economy is allready growing joining Eu would just slow it down.
Thats why we dont need to enter a economic organisation like Eu, but we need a strong organisation for geo political interests and protection and that the job of Nato.

So we dont need to enter any other Organisation, what we need is to vitalize our relation to all directions.

And if you look at the world map you will see what i mean we are in center of the world.

 

[kalu_miah]

Deputy Prime Minister Bekir Bozdağ and Saudi Arabian Minister of Transportation Jubarah bin Eid Al-Suraiseri signed the Mixed Economy Commission Protocol on Wednesday to enhance economic relations.

“We want to increase trade and economic relations to the highest level between Turkey and Saudi Arabia, which share the same cultural and religious values. We have established good relations in every area with Saudi Arabia, the most populous country in the Gulf region,” said Bozdağ during his speech at the signing ceremony, held at the Ministry of Economy in Ankara.

Stressing that Turkey and Saudi Arabia are the leading countries in the region having a combined gross domestic product (GDP) of almost $1.4 trillion, export volume of $540 billion and population of 105 million, Bozdağ said: “We [Turkey and Saudi Arabia] have the capacity to contribute to the peace and stability of the region. Turkey sees its friend Saudi Arabia as one of the most important countries in the region.”

Bozdağ also made the case for increasing trade volume between Turkey and Saudi Arabia. “Turkey's share of imports to Saudi Arabia constitutes only 3 percent; this number falls behind the potential. Our target should be to increase the trade volume between the two countries to $20 billion in the next five years,” said Bozdağ.

In his speech, Al-Suraiseri highlighted that the trade volume between the two countries is increasing steadily despite the turmoil in Middle East. “The steady increase in the trade volume shows that we are on the right track. Both countries have significant opportunities for increasing mutual investment,” said Al-Suraiseri.

Video of the sign of the protocol

Congratulations, glad to see increasing relations between Saudi Arabia and Turkey.

 

[Anubis]

Exactly, what i'm trying to say. Relations with West is okay, trading with West is okay... but you know how they act when it comes to EU membership.

Why do you want to get into the EU....they are going to take your hard-earned money and give it other countries(e.g. British money to Spain)....does the benefit outweigh the cost?

 

[Yzd Khalifa]

Why do you want to get into the EU....they are going to take your hard-earned money and give it other countries(e.g. British money to Spain)....does the benefit outweigh the cost?

Not to mention the differences between some countries within the EU to Turkey - of which their leaders often stress that Turkey is so different from us -