02/05/2009
During a meeting between a number of German and Saudi businessmen, Adnan ibn Abdullah Al-Nueim, the General Secretary of Asharqia Chamber, promoted the Eastern Region explaining that it is the production capitol of the Gulf with the perfect climate to attract foreign investment and joint projects. He said the climate is especially good for German companies because they enjoy a very good reputation in the Kingdom. Al-Nueim mentioned that companies can benefit from Saudi foreign investment regulations pointing out that there are already 120 Saudi-Germain joint investment ventures worth more than 13.4 billion riyals.
The leader of the German delegation, Dr. Thomas Bach, Chairman of the Arab-German Trade and Production Office, invited Saudi companies to participate in the Arab-German Conference that will be held on the 24-26 of June. Dr. Bach said that it will be an outstanding opportunity for Saudi businessmen to meet their German counterparts and learn about each others products. He added that Saudi Arabia has alot to offer Germany such as petrochemical products as well as food products.
Abdul-Azeez Al-Mikhlaafi, the General Secretary of the Arab-German Trade and Production Office, said that Saudi-German trade in 2008 alone reached about 6.4 billion euros which was just a fraction of the total trade between Germany and the Arab world which reached approximately 42 billion euros.
