Turkey

The issue of food security is getting higher on Riyadh’s priority list.

En janvier, le premier riz “saoudien” produit à l’étranger a été présenté au roi Abdallah. Le consommateur saoudien ne goûte pas la différence. En dépit du renversement de conjoncture, il continue à payer son alimentation à un prix élevé, correspondant au niveau en vigueur pour les achats massifs effectués en 2008 afin de prévenir toute crise alimentaire.

Vision3, the promoter of AgriCap, the investment vehicle conceived to invest in visionary initiatives across the agriculture sector in the greater MENA region announced today that it signed a Memorandum of Understanding with the General Directorate of Agricultural Enterprises (TIGEM), a Turkish governmental agency falling under the authority of the Ministry of Agriculture and Rural Affairs.

Bahrain and Turkish trade links took a step closer yesterday with the signing of an agreement for an agricultural project initially worth $0.5bn (BD189 million), rising to $3bn (BD1.13bn) and eventually $6bn (BD2.26bn), said Industry and Commerce Minister Dr Hassan Fakhro at the signing ceremony.

Two listed Saudi companies plan to invest in either farming or agri-business abroad under a state-sponsored plan to ensure steady food supplies.

Saudi Arabia's Hail Agricultural Development Co (Hadco) said on Monday it would look at investing in Turkey and Kazakhstan after moving into Sudan under a government plan to ensure steady food imports.

Saudi Arabia, one of the world's biggest rice importers, has received the first batch of rice to be produced abroad by local investors, state news agency SPA reported on Monday.

Turkey can attract up to $9 billion funds from Gulf Arab funds, mainly in food and agriculture, the head of the Turkish Investment Support and Promotion Agency said on Monday. "We are working on a big project for the southeastern Anatolia region."

King Abdullah received today Saudi Arabia's Minister of Commerce and Industry accompanied by two Saudi businessmen Mohammad Hussein Al-Amoudi and Abdullah Hassan Al-Masri on the occasion of the arrival of the earliest produce of their rice to the Kingdom.

Vision 3, an alliance formed by Gulf Finance House, Ithmaar Bank and Abu Dhabi Investment House, announced the make up of its board at its inaugural meeting yesterday.

Vision3, an alliance of three major Gulf financial institutions, has signed a landmark deal with Turkey paving the way for nearly $9 billion investment in Turkey’s agricultural sector.

The deputy leader of the Democratic Left Party (DSP) Turkey has stated that Turkey possesses some great advantages in agriculture, despite the major problems that remain in place in the sector, but emphasized that it is a mistake to sell agricultural land to foreigners.