bak in the meeting with Minister of Economy and Planning Dr. Mohammed Al-Jasser and members of the Council of Saudi Chambers in Riyadh Wednesday. — SPA RIYADH – An economic meeting has taken place between the Council of Saudi Chambers and the President of South Korea Lee Myung-bak. The meeting was held to discuss Saudi-South Korean cooperation in vital economic fields. These include the role of the public and private sectors in increasing the volume of trade exchange and providing more investment opportunities. The meeting was attended by Minister of Economy and Planning Dr. Mohammed Bin Suleiman Al-Jasser, Minister of Commerce and Industry Dr. Tawfiq Bin Fawzan Al-Rabeah, South Korean Minister of Economy and senior officials from Saudi and South Korean chambers of commerce. The Minister of Economy and Planning, Dr. Al-Jasser, called for forging a strategic investment partnership with South Korea. He pointed out that the Kingdom's strong and balanced economic and financial policy led to a big surplus in the budget and a decrease of public debt by six percent. He said: “The Kingdom's economy provides rewarding investment opportunities. Businessmen from both sides should focus on this fact.” Minister of Commerce and Industry, Dr. Al-Rabeah said: “We look forward to working together to enhance bilateral economic relations. The Kingdom is ranked 18th globally in terms of attracting foreign investment and has a strategic location in the Middle East.” He revealed the volume of trade exchange between the two countries hit SR110 billion in 2010. He also expressed his belief that this figure could be raised and announced plans to increase cooperation in advanced research technology. The Chairman of Council of Saudi Chambers, Abdullah Saeed Al-Mabti, praised the visit for boosting the trust of businessmen of both sides in investments. He said the Saudi Chambers look forward to increasing cooperation in the field of technology.
