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FINANCIAL NEWS
Saudi, France to boost trade ties in food sector
06 Oct 2014
(MENAFN) Saudi’s Irrigation and Energy Solutions Company (IES) announced it has signed a memorandum of understanding (MoU) with a French business group, which comprises 230 companies involved in the fields of agriculture, food irrigation and fisheries, Arab News reported.
The MoU is expected to increase the volume of cooperation between the business sectors of Saudi Arabia and France, particularly in the food sector.
France known to be a European leader the field of food and agriculture, as well as being the fifth wheat producer and the third largest exporter in the world.
The country is the largest European state producing wheat, with 35 million tons of wheat being produced in a year, from which 50 percent is being exported and this year Saudi Arabia imported French wheat for the first time.
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