Saudi crown prince and Erdogan plan crucial talks in Turkey

September 26, 2016

Riyadh, Sep 26: Crown Prince Mohammed bin Naif, minister of interior, will travel to Turkey and meet with top Turkish officials including President Recep Tayyip Erdogan and Prime Minister Binali Yildirim on Thursday for the first time since the attempted coup in Turkey in July.

naifThe crown prince will also hold talks with Turkish business leaders, according to reports published Sunday in local Arabic media here.

“The crown prince will be accompanied by several high-ranking Saudi officials including Foreign Minister Adel Al-Jubeir and Majid Al-Qassabi, minister of commerce and investment,” said a reliable source, while giving details about the royal visit.

He said that the crown prince will hold wide-ranging consultations with the Turkish president and prime minister during his two-day stay in Turkey.

The visit of the crown prince, ahead of the meeting of the high-profile Saudi-Turkish Strategic Cooperation Council, is significant, keeping in view the close ties between the two countries.

Turkey has also been vocal on the US’ Justice Against Sponsors of Terrorism Act (JASTA), and has vehemently opposed the bill. Erdogan, in fact, called on the US and the US officials, including President Barack Obama, to veto the bill.

In a recent report, Erdogan said: “Turkey will never approve such an act by the US. The entire country cannot be held responsible just because a few Saudi nationals committed a crime.

Let me give you another example. The leader of FETO lives in the US and all can see the terrorism waged by this group. Should we punish the US for that? Can we pass a law in Parliament to demand compensation from the US?”.

Referring to the major topics on the agenda of discussions between the crown prince and Turkish officials, the source said they include “key bilateral, regional and international issues including terrorism and security.”

The talks may also focus on the failed coup in Turkey.

Crown Prince Mohammed, who is also the chairman of the Council for Political and Security Affairs, will also meet with the Turkish minister of defense and minister of foreign affairs.

The visit coincides with the plan of the Turkish government to announce new incentives and facilities for foreign investors, in particular to Saudi and Gulf businessmen, to promote foreign investments.

A large number of Saudi companies are active in Turkey, while Turkish companies have been actively working in the Kingdom for the last several decades.

The investment of Saudi companies in Turkey will exceed $2 billion as of now.

On the other hand, the trade turnover between Turkey and Saudi Arabia amounted to $2 billion between January and March 2016.

The trade turnover between the countries amounted to $5.5 billion last year.

Several Turkish companies, which have had sound technological know-how, have expressed keen interest to set up joint ventures or work closely with their counterparts in the Kingdom.

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News Network
March 25,2020

Riyadh, Mar 25: A 46-year-old man died of coronavirus in Saudi Arabia, becoming the Kingdom’s second death, according to a health ministry’s spokesman.

The health ministry recorded 133 new infections, bringing the total to 900.

Of those newly confirmed cases, 18 are associated with recent travel, and were placed in quarantine upon their arrival in the Kingdom, the spokesman said.

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News Network
March 11,2020

Mar 11: Energy giant Saudi Aramco on Wednesday said it plans to raise its crude production capacity by one million barrels per day to 13 million bpd as a price war with Russia intensifies.

"Saudi Aramco announces that it received a directive from the ministry of energy to increase its maximum sustainable capacity from 12 million bpd to 13 million bpd," the company said in a statement to the Saudi Stock Exchange.

The decision comes a day after the world's top exporter, Saudi Arabia, decided to hike production by at least 2.5 million bpd to a record 12.3 million from April.

The Saudi moves come after the collapse of an oil production reduction agreement between OPEC and non-OPEC producers, including Russia.

The deal proposed by Saudi Arabia called for additional output cuts of 1.5 million bpd to cope with the severe economic impact of the coronavirus which has sharply reduced world demand for crude.

Boosting production capacity normally takes a long time and requires billions of dollars of investment.

Several years ago, the kingdom had shelved plans to boost its crude production capacity beyond 12 million bpd after demand for OPEC oil declined in the face of stiff competition from North American shale oil and other sources.

Russia on Tuesday said it was open to renewing cooperation with the OPEC cartel even as its kingpin Saudi Arabia escalated a price war with Moscow by announcing it would flood markets with new supplies.

The oil price war broke out after OPEC and a group of non-member countries dominated by Russia -- the world's second largest producer -- on Friday failed to agree on production cuts.

Saudi Arabia responded by announcing unilateral price cuts. This prompted the oil price to plummet and fuelled huge falls on stock markets around the world on Monday.

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Agencies
January 11,2020

Muscat, Jan 11: Oman's Sultan Qaboos bin Said has died, Aljazeera reported citing state television on Friday.

Qaboos was 79-year-old and was ill for a long time. He has served as the ruler of Oman since 1970 when he ousted his father in a bloodless coup.

Qaboos had no children and has not publicly named his successor.

Sultan Qaboos travelled to Belgium for a week in December for what was described then as "medical checks." He returned to Oman but speculations of his deteriorating health were rife.

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