Saudi Arabia foresees $600 billion of investment in Turkey March 2015

Saudi Arabia foresees making investments of $600 billion in Turkey during the next 20 years, according to the chairman of the largest Saudi lender.

Saudi Arabia foresees making investments of $600 billion in Turkey during the next 20 years, according to Abdul Kareem Abu al-Nasr, the chairman of National Commercial Bank, the largest Saudi lender.
Investment in Turkey’s agriculture and manufacturing is set to increase, Abu al-Nasr said Wednesday in a presentation that was delivered in Turkey, a copy of which has been obtained by Bloomberg News.
“In the agriculture space, Turkey emerged as one of the top recipients of Saudi investment, as the kingdom seeks to boost its food security,” he said in the document.
Planet Food World will invest $3 billion in Turkish agriculture in the next five years, with the aim of exporting food products to the Gulf region, he added.
The strength of Turkey’s agriculture enabled exports of farm products to Saudi Arabia to increase from $90 million in 2008 to $144 million in 2009, according to Abu al-Nasr.