Turkey, Saudi Arabia sign economic protocol

Turkey's Finance Minister Kemal Unakitan and Saudi Arabia's Minister of Transport Jubarah Suraysri put their signatures under a protocol of the ninth meeting of the joint economic committee between the two countries.

"The protocol reaffirms commitment to achieve huge goals," Unakitan said during the signature ceremony.

Unakitan said that Saudi Arabian authorities should accept letters of guarantee granted by Turkish banks to Turkish contractors conducting business in Saudi Arabia.

Solving this problem would boost the cooperation of the two countries, he also said.

Suraysri said that his country would work to encourage investments and the business world, and also said that the letter of guarantee procedure stemmed from Saudi Arabian laws.

Photo: AA

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