Turkey to become fastest growing economy: Saudi Minister Naimi

Saudi Arabia's Minister for Petroleum Naimi said the fluctuation in petrol prices did not have adverse reactions on anybody.

Turkey to become fastest growing economy: Saudi Minister Naimi

World Bulletin/News Desk

Saudi Arabia's Minister of Petroleum and Mineral Resources Ali Ibrahim al-Naimi has said fluctuation in petrol prices did not have adverse reactions on anybody.

"Saudi Arabia seeks for consistent and stable petrol prices. This is very important from the state's, people's and planning of economic growth's point of view," said Saudi minister.

Minister Naimi attended, "Towards a New Global Energy Landscape: What Role for Turkey-" titled Annual Energy Forum of Sabanci University's Istanbul International Energy and Climate Center (IICEC) and while delivering his speech, he stated that Saudi Arabia would continue to be a stable and trustful supplier as always.

In the year of 1995, price per barrel of oil was about 16 USD and now it rose to 100 USD, said Minister Naimi and added, "global growth and increasing population raised the demand on and prices on petrol."

Naimi continued, "Saudi Arabia seeks for consistent and stable petrol prices. This situation would have an important effect on people and planning of economic growth."

Naimi reminded the global economic recession which kicked off in 2007-2008 and said that the growth rate in Europe was very low.

"When we look at Turkey and Saudi Arabia, we can see that they are in a much better situation than many other countries. Turkey has become the 16th largest economy in the world. It is seen that Turkey will continue its success in being the fastest growing economy in the region. Of course, this situation will benefit the whole region," underscored Saudi Arabian minister. 

Last Mod: 10 Mayıs 2013, 15:17
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