JEDDAH, 11 January 2008 — The volume of Saudi-German investment in the Kingdom is estimated at at SR4.1 billion in 115 projects, the Jeddah Chamber of Commerce and Industry (JCCI) said.
“This shows the success of the Kingdom’s steps to attract foreign investments with a target of SR620 billion over the next few years,” Saleh Turki, chairman of JCCI, said following a meeting with Consul General of Germany Dr. Michael Zickerick at the chamber headquarters here yesterday.
The mutual trade between the two countries rose by 15 percent in 2006.
The German exports to the Kingdom stood at SR18.24 billion accounting for 8.18 percent of the total Saudi imports in 2005. On the other hand, the Saudi exports to Germany was SR4.08 billion, accounting for 0.6 percent of the total imports of Germany.
Volume of trade between the two countries stood at SR22.32 billion, with SR14.15 billion in favor of Germany in 2005.
The major Saudi exports to Germany include crude oil and related products worth SR3.79 billion, polyethylene worth SR65 million and packaging paper worth SR7 million.
The major German exports to the Kingdom in 2005 included mobile phone equipment worth SR917 million, cars worth SR870 million, barley worth SR804 million and medicine SR695 million.
