The current volume of trade between the Kingdom and Turkey is $3 billion and is expected to hit $10 billion by 2015, while mutual investment between the countries has reached $75.3 billion, said Mazen Muhammad Batarjee, Vice President of the Jeddah Chamber of Commerce and Industry (JCCI). Batarjee met recently with Dr. Murad Yalshintas, President of the Istanbul Chamber of Commerce and Industry at the JCCI headquarters in Jeddah. Yalshintas said Turkish business wants to invest more in the strong Saudi economy. “We'd like to enhance Turkish investments in the Kingdom in contracting, railways and airports.” He added that the Kingdom is an important economic partner for Turkey. Yalshintas called on Saudi businessmen to enhance their investments in Turkey's profitable tourism industry. Batarjee urged businessmen to further develop bilateral economic relations. He said there are over 200 Saudi companies in Turkey and 17 economic councils between Turkey and other Arab countries. There are several industrial, business and service sectors open for investment, Batarjee pointed out. “The Kingdom and Turkey have signed several agreements on investment protection, trade cooperation, double taxation avoidance and the transport of goods.” __
