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Free trade agreement draft between KSA and Turkey

Trade exchange between the two countries has doubled during the period from 2009 to 2014

Dr Tawfiq bin Fozan Al-Rabiah, Saudi Minister of Commerce and Industry, met with the Turkish Economy Minister Nihat Zeybekci in the Turkish city of Antalya, on the sidelines of “The leaders of the Group of 20 Summit”.

During the meeting, both officials discussed issues of common interest between the two countries, Saudi-based Al Yaum Newspaper reports.

The Turkish Minister of Economy stressed on his country’s desire to discuss the free trade agreement’s draft between the two countries.

The Turkish Minister noted the positive echo to the visit of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, to Turkey, stressing the importance of Saudi Turkish integration in economic and development fields and the multiplier effect expected from it.

For his part, the Saudi Minister of Trade and Industry says that the trade exchange between the Kingdom of Saudi Arabia and Turkey has doubled during the period from 2009 to 2014 from SAR12 billion to more than SAR24bn.

The Minister adds that there is a change to increase two-way investment between the two countries.

(SAR1 = AED0.98 at the time of publishing)