JEDDAH: ABDUL HADI HABTOOR
Sunday 24 March 2013
Last Update 24 March 2013 2:32 am
Ali Babacan, deputy prime minister of Turkey, has said that relations between his country and Saudi Arabia are built on strong and solid historic and cultural foundations.
“Saudi Arabia and Turkey are working together side by side in numerous regional and international organizations within the framework of the G20 countries that form the largest economic bloc in the world,” he said in an interview.
Indicating that Turkish developers are keen on executing more infrastructural projects and housing in the Kingdom, he said: “The Turkish experience in building is based on the cooperation of the state and the private sector.” Buildings in this regard include houses for low-income families implemented by the private sector under the supervision of the government. The other is for middle class citizens but fully executed by the private sector.
“We take the needs of citizens into account as much as possible, in addition to environmental impact,” he said, adding that Saudi Arabia should adopt the most suitable model on both the financial and social levels. “The largest possible number of houses should be built at affordable prices for all classes of society.”
In the field of trade, he pointed out that exports from his country to the Kingdom stood at $ 3.3 billion against $ 4.8 billion in imports from Saudi Arabia. “Last year, volumes of commercial exchange increased by more than $ 1 billion,” he added.
He said the economic transformation of his country relied on long-term and highly transparent economic policy. “Political stability is a very important factor in this process,” he pointed out.
Babacan said that the projected Turkish economic growth is 4 percent this year, coupled with an increase in employment rates and exports to $ 158 billion.
Turkey recently approved regulations to allow foreign ownership of real estate and property. “Citizens of the GCC will benefit greatly from this regulation,” he said.
via Turkey wants to share its housing experience | ArabNews.