403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Saudis own 742 of shares in 14 industrial projects with Australia
(MENAFN- Arab News) Saudi investors own 74 percent of shares in 14 industrial projects jointly invested by Saudi and Australian businessmen in the Kingdom while 20 percent of shares go to the Australian investors Saudi envoy in Canberra Nabil Al-Salih told local media.
On the other hand Saudi investors acquire 58.6 percent of 25 joint commercial projects while 41.1 percent of shares are owned by their Australian counterparts Al-Eqtisadiah daily quoted the envoy as saying.
He said the Australian Trade Commission (ATC) plans to launch a program in Riyadh aimed to bolster bilateral relations between the two countries at commercial investment and cultural levels.
The desire to develop relations between the two parties comes in light of the leading role of Saudi economy in the region and world at large which is considered one of the powerful world economies occupying the 19th rank a matter that earned the Kingdom political economic and strategic weight among world countries the envoy said.
He said the Kingdom is considered the second largest trade partner with Australia in the Middle East and North Africa (MENA) region. It is also the biggest importer of cars manufactured in Australia he said.
He noted that the Saudi Embassy in Canberra is always keen to develop trade relations between the two countries. In this context he referred to the establishment of the Saudi-Australian Business Council (SABC) in March 2013 in Canberra.
The SABC is aimed to foster commercial and economic relations between the two countries and also activate relations between the businessmen in both countries. The Saudi envoy in Australia launched works of SABC in Melbourne and Sydney the daily said.
On the other hand Saudi investors acquire 58.6 percent of 25 joint commercial projects while 41.1 percent of shares are owned by their Australian counterparts Al-Eqtisadiah daily quoted the envoy as saying.
He said the Australian Trade Commission (ATC) plans to launch a program in Riyadh aimed to bolster bilateral relations between the two countries at commercial investment and cultural levels.
The desire to develop relations between the two parties comes in light of the leading role of Saudi economy in the region and world at large which is considered one of the powerful world economies occupying the 19th rank a matter that earned the Kingdom political economic and strategic weight among world countries the envoy said.
He said the Kingdom is considered the second largest trade partner with Australia in the Middle East and North Africa (MENA) region. It is also the biggest importer of cars manufactured in Australia he said.
He noted that the Saudi Embassy in Canberra is always keen to develop trade relations between the two countries. In this context he referred to the establishment of the Saudi-Australian Business Council (SABC) in March 2013 in Canberra.
The SABC is aimed to foster commercial and economic relations between the two countries and also activate relations between the businessmen in both countries. The Saudi envoy in Australia launched works of SABC in Melbourne and Sydney the daily said.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
More Story
Comments
No comment