The 9th joint meeting of Turkish-Saudi Business Council will take place in Istanbul on June 10. Turkish Foreign Economic Relations Board (DEIK) stated on Friday that the businessmen would discuss the huge projects which were initiated in Saudi Arabia under the titles “Port City”, “Industry City”, “Coast City”, “Education City” and “Life City”, and worth of $80 billion. Nearly 30 Saudi businessmen will attend the meeting. Participants will also develop joint solutions against global economic crisis as well as set up a cooperation platform. The rate of export from Turkey to Saudi Arabia increased 47 percent in 2008 when compared to 2007. Trade volume between the two countries was over $5.5 in 2008. - SG Meanwhile, Ahmet T?kt?k, deputy president of the Islamic Development Bank (IDB) and former undersecretary of the State Planning Organization (DPT), has said Gulf capital may help Turkey satisfy its need for foreign investments. The wealthy owners of capital in the Gulf region will likely be interested in investments in the fields of agriculture, education and health, he added. Speaking on the sidelines of the IDB's annual meeting in the Turkmen capital of Ashgabat, T?kt?k emphasized the need for increased promotional activities to draw foreign investors to Turkey while preparing new investment instruments in which Gulf businessmen may be interested. He cited the example of Saudi Arabia, which has spent over $3 billion in agricultural investments in recent years. “The land is sitting there idle. Nobody will be taking this land outside the country,” he stressed.
