AlQa'dah 12, 1432, Oct 10, 2011, SPA -- Consul of The Philippines in Jeddah Yourel Norman R. Garibay today presented a package of investment opportunities in the field of agriculture for Saudi businessmen, vowing that Filipino businessmen share a true wish to invest in the Kingdom. During a meeting with the Secretary General of the Chamber of Commerce and Industry of Jeddah Adnan Hussein Mandourah, the Consul reviewed aspects of joint cooperation between the two countries, confirming that relations between the two countries witness tangible development amid the sincere wish of Filipino businessmen to avail themselves of the investment opportunities in the Kingdom in all sectors due to the healthy economic and investment environment in the Kingdom. He noted that Saudi Arabia is The Philippines biggest source of oil and petrochemical products, citing the formation of a joint Saudi Filipino Commission. Over the last 20 years, the trade balance was in favor of the Kingdom, with the total Saudi exports to The Philippines amounting to $24.375 billion and the Filipino exports to Saudi Arabia totaling $1.067 billion, he said.
