Saudi Arabia and Turkey will hold talks to map out a future strategy for cooperation in the agriculture sector on Tuesday. The talks, to be held within the framework of a major initiative launched by Custodian of the Two Holy Mosques King Abdullah to ensure food security, will be led by Minister of Agriculture Fahd Balghunaim, while Turkish Minister of Agriculture and Rural Affairs Mehdi Eker will attend from the Turkish side.
A group of private Saudi investors said they plan to start a company with $533.3 million capital that will invest in farm projects mainly abroad. First projects may be with Ghana, Turkey and Kazakhstan.
Saudi Arabia announces the launch of Agroinvest, which will focus on farm acquisitions abroad to grow wheat, rice, soybeans and other crops in Brazil, Vietnam, Indonesia, Philippines, Pakistan and Turkey
Private Saudi firm Planet Food World (PFWC) will invest around $3 billion in agriculture in Turkey over the next five years to export food products to the Gulf region, the head of its Turkish unit said.
Since details emerged of Saudi Arabia’s plans to ensure supplies of wheat, rice, corn, soya beans and alfalfa through overseas agricultural investments, officials have insisted that they intended the programme to be private-sector led.