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The size of the Saudi trade - Latin amounted to $ 10 billion

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Rocky


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The size of the Saudi trade - Latin amounted to $ 10 billion




November 10, 2015 0


Economic study showed that the trade exchange between Saudi Arabia and the countries of Latin America amounted to 37.5 billion riyals, the equivalent of $ 10 billion over the past year in 2014, compared to 42.4 billion riyals, the equivalent of $ 11.3 billion during 2013.

According to the study, "Saudi exports to the countries of South America have reached over the past year, about 14.7 billion riyals, the equivalent of $ 3.9 billion, while the UK has imported from South American countries goods worth 22.8 billion riyals, the equivalent of $ 6.1 billion."

Include imported from Brazil also goods, milk, maize, soybean, sugar, orange juice, wood and agricultural tractors, engines and rotary aircraft or where the ignition spark, but Oldrzac devices settlement.

On the other hand, the volume of trade between the Arab countries and South America of $ 13.6 billion, jumped to $ 35 billion in 2014, up 156%.

According to the study, "the foreign trade of Arab countries has grown with the South American countries in the last decade, with an average annual growth in Arab exports to other South American countries in recent years 17%, while the most important Arab exports to other South American countries in the oil and petroleum products, fertilizers, iron and steel."

While the average growth of Arab imports from South American countries stood at 20%, while the most important include Arab imports from South America in the meat, grain, ore minerals and nutrients in.

It is noteworthy that "the Arab summit with South America are held every three years and is considered the Riyadh summit is the fourth summit, where the first was held in Brasilia on May 10-11 2005 and the second in Doha March 31, 2009, and the third in Lima October 2, 2012, coincided with All the three previous summits held a meeting of Arab businessmen Koreans and Americans.

The fourth Summit will be held today and tomorrow (10 and November 11 of this) in the Saudi capital Riyadh. In preparation for the summit, held yesterday the first Sunday, the Fourth Forum of businessmen of Arab and South American countries hosted by the Council of Saudi Chambers, which recommended the establishment of a joint private sector company for shipping, and the creation of another company for logistics and between the Arab countries and South American countries.

He urged the Forum at the end of its meetings on the increase of direct flights between the Arab countries and South America, and to facilitate the granting of visas for tourism and business. It also called to enhance the level of mutual trade representation between the two regions and promote the establishment of bilateral business councils in the two regions.

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