Zafer Caglayan's formal visit will cover Jeddah as well as the capital Riyadh.
Caglayan will deliver a speech at an international business forum and sign a memorandum of understanding on contracting services.
Minister Caglayan is accompanied by representatives of almost 100 Turkish companies serving in textile, ready-made clothing, construction, food, automotive, furniture, jewelry, home textile, medicine, medical devices, machinery and equipment.
The visit aims to raise Turkey's share in Saudi Arabian market and create new export and contracting opportunities.
On Saturday, Caglayan will meet Ekmeleddin Ihsanoglu, the secretary general of the Organization of the Islamic Cooperation (OIC) and meet Turkish businessmen residing in the country.
Turkish-Saudi Arabian trade relations have improved significantly in the last decade.
Trade volume between the two countries rose to 5.5 billion USD in 2008. IT was only 1.7 billion USD in 2003.
Trade volume between Turkey and Saudi Arabia was down 37 percent year-on-year in 2009 due to global financial crisis, but was up to 4.5 percent in 2010.
In the first ten months of 2011, Turkey's exports to Saudi Arabia rose 19.2 percent year-on-year and reached 2.2 billion USD from 1.9 billion USD. In the same period, Turkey's imports from this country was also up 46 percent and reached 2.7 billion USD from 1.9 billion USD.
Turkish-Saudi Arabian trade volume totalled 5.074 billion USD in the first ten months of 2011.
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Source : en.cumhuriyet.com
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