Finance Minister Simsek: "Turkey is working to attract Gulf country investments"

Saudi Arabia and Turkey showed firmness during the world economic crisis, and this created a strong ground for future investments, said Finance Minister Mehmet Simsek yesterday. "Saudi Arabia has a current account surplus, so it has a savings surplus," he said during a meeting with his Saudi counterpart Ibrahim Abdulaziz Al-Assaf. "Turkey is a fast-growing country but has a relative savings deficit. Turkey and the region have structures which complement each other." He added, "In 2004-2009 alone, Saudi investments in Turkey totaled $1.4 billion. The probability of investments both from the Gulf and Saudi Arabia in the years to come is high. There are important opportunities. The Treasury is working on all ways to attract resources and funds."