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Saudi-French trade ties set for sharp growth

Published 2014-10-07 02:12:16
Samir Kabbani, chairman of the board at Irrigation and Energy Solutions Company (IES), predicts that the volume of cooperation between the business sectors of Saudi Arabia and France is likely to grow in the coming years.
His remarks follow the recent state visit of Crown Prince Salman, deputy premier and minister of defense to France, during which he addressed the high-profile meeting of the Saudi French Business Council (SFBC) in Paris.
Kabbani is also a member of the council. 
According to Kabbani, the Crown Prince’s visit has given a new momentum to 300 business participants from both sides, representing various sectors. 
Prince Salman encouraged the businessmen by promoting more cooperation between the two sides.
Kabbani also said that France is a leader in Europe in the field of food and agriculture. It is also the fifth wheat producer and the third largest exporter in the world.
It is the largest European state that produces 35 million tons of wheat in a year from which 50 percent is being exported. 
Saudi Arabia imported French wheat this year for the first time, he said. 
The country is also known for its bakery products worldwide. Its tradition of excellence goes back to hundreds of years. 
He says France applies the latest methods in the management of farm land to grow agricultural crops which are famous for their high quality.
Various cooperation agreements were also finalized during the state visit.
IES, represented by its chairman Kabbani, signed a memorandum of understanding (MoU) with a French business group, which comprises 230 companies involved in the fields of of agriculture, food irrigation and fisheries.
Both sides are looking to enhance cooperation between the two sides and to take advantage of technical expertise, Kabbani said. 
He was hopeful the measures would help boost the presence of Saudi dates in the French market.

RIYADH: ABDUL HANNAN TAGO | ARAB NEWS STAFF

Published — Monday 6 October 2014

More at: http://www.arabnews.com/economy/news/640236

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