2006 News Story

Saudi Ambassador reaffirms the strength of Saudi-US business ties

  Prince Turki addresses business and community leaders at a luncheon in Dearborn, Miichigan

Saudi Ambassador to the US Prince Turki Al-Faisal reaffirmed the strength of Saudi-US business relations in remarks to the American Arab Chamber of Commerce, the Detroit and Dearborn Chambers of Commerce in Dearborn, Michigan today.

“Our common business interests support our common values and our common goals,” Prince Turki said.

For that reason, Saudi Arabia is taking major steps to promote greater trade and business between the two countries. These steps include joining the World Trade Organization (WTO) and investing in its economic infrastructure, he said. They also include joining additional initiatives to lower tariffs and other trade barriers for telecommunications services, pharmaceuticals, civilian aircraft and parts, chemicals and information technology.

Prince Turki also noted that there are currently investment opportunities worth over $600 billion in Saudi Arabia in the next 15 years in various fields.

“The Kingdom is making every effort to foster an environment friendly to business and to foreign participation,” he said.

Transcript of Prince Turki’s remarks