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Saudi-Turkish Business Forum Helps Boost Economic Ties

Saudi Arabia's flag.
Saudi Arabia's flag.
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Saudi-Turkish Business Forum Helps Boost Economic Ties

Saudi Arabia's flag.
Saudi Arabia's flag.

The Saudi-Turkish Business Forum and Turkish Products Fair was held on March 4, 2024 at the Riyadh International Convention and Exhibition Center, SPA said on Tuesday.
The Riyadh Chamber of Commerce hosted the forum.
Saudi Minister of Commerce Majid Al-Qasabi emphasized the strong relations between Saudi Arabia and Turkiye, and the potential for increased collaboration.
He highlighted Saudi Arabia's "unprecedented transformation", driven by the "wise leadership, an ambitious vision, and a population of which 80% are young people".
The Minister also said that the Kingdom's vast oil and mineral resources, estimated at $1.5 trillion, are contributing significantly to its ongoing transformation.
Minister of Investment Khalid Al-Falih met with representatives of Turkish construction companies and highlighted the growing Saudi economy and the numerous investment opportunities, particularly in the construction sector, valued at $152 billion.
The targeted capital expenditure exceeded $3.3 trillion from 2022 to 2030, he said, reiterating that potential construction contracts range from $1.6 trillion to $$1.8 trillion.
Turkish Minister of Trade Omer Bolat emphasized the forum's significance to bolstering trade and economic ties between the two nations. He highlighted the $6.2 billion trade volume achieved in 2023, and expressed optimism for further growth.
He also underlined the Turkish companies' keenness to capitalize on investment opportunities arising from Saudi Vision 2030.
Second Vice Chairman of the Riyadh Chamber Naif Al-Rajhi emphasized the forum's role in building on the partnerships established at the Saudi-Turkish Business Forum held in Istanbul last October, which resulted in several cooperation agreements.
The forum concluded with the signing of new agreements between Saudi and Turkish companies.

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Fire, Smoke Upend Western Canada’s Summer Tourism Season

A helicopter works a forest fire outside of Jasper, Alberta, Canada, on Friday July 26, 2024. (Reuters)
A helicopter works a forest fire outside of Jasper, Alberta, Canada, on Friday July 26, 2024. (Reuters)
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Fire, Smoke Upend Western Canada’s Summer Tourism Season

A helicopter works a forest fire outside of Jasper, Alberta, Canada, on Friday July 26, 2024. (Reuters)
A helicopter works a forest fire outside of Jasper, Alberta, Canada, on Friday July 26, 2024. (Reuters)

Severe wildfire seasons are increasingly hurting western Canada's lucrative tourism industry, with some visitors beginning to avoid the busy late-summer months due to concerns about uncontrolled blazes, smoke-filled skies and road closures.

After a scorching start to July, nearly 600 wildfires are now ablaze across British Columbia and Alberta, including a huge fire that this week devastated the picturesque tourist town of Jasper in the Canadian Rockies.

Dozens of communities, including popular holiday spots in British Columbia's Kootenay region, are under evacuation orders and several highways are closed.

This year's surge in wildfire activity comes after Canada endured its worst-ever year for wildfires in 2023, when more than 15 million hectares (37 million acres) burned, including parts of the city of West Kelowna in the heart of British Columbia's wine region.

Ellen Walker-Matthews, head of the Thompson Okanagan Tourism Association, said the industry was seeing a lot more last-minute travel decisions instead of booking in advance.

"It's a huge blow. July and August are traditionally the busiest months in the region," said Walker-Matthews, adding that while her region has been relatively unscathed by wildfires this summer, some visitors are choosing to avoid interior British Columbia altogether.

The members of the British Columbia Lodging and Campgrounds Association are reporting a 5-15% drop in bookings from a year ago, with the biggest declines coming from the hotter Okanagan and Cariboo regions, said Joss Penny, who heads the association.

"The concern is that this is something we have to live with and we have it every year now," said Penny.

Although wildfires in Canada's forests are natural and common, scientists say drier, hotter conditions fueled by climate change are leading to more volatile and frequent blazes.

'SMOKEY SKIES'

Some events, like the Salmon Arm Roots and Blues Festival, usually held in August, have now been rescheduled to earlier in the summer to avoid what is now seen as peak smoke season. The festival, which was cancelled last year due to nearby wildfires, was this year moved to July to benefit from "less smokey skies."

Wildfires and extreme climatic events are prompting tourists to "change their plans not just temporarily, but permanently," said Elizabeth Halpenny, a tourism researcher and professor at the University of Alberta, noting that seasonal workers in the sector are often the hardest hit as they have few protections during a bad season or amid a cataclysmic fire.

Tourism contributed C$7.2 billion to the British Columbia economy in 2022, and C$9.9 billion to Alberta in 2023, according to the latest government data.

Jasper National Park is one of Canada's premier tourist destinations, with more than 2 million visitors a year flocking to see its pristine mountain landscapes and abundant wildlife, including grizzly bears, moose and elk.

Kelly Torrens, vice-president of product at international tour company Kensington Tours, described western Canada as a bucket-list destination. But the company now has 49 trips that were supposed to pass through Jasper this season in limbo. Six others were forced to evacuate the park when the fire hit.

Parks Canada has cancelled all camping reservations within Jasper National Park until Aug. 6 and with potentially 50% of the town's structures destroyed by fire, the cleanup and rebuild could take years.

Halpenny is among those hedging their bets.

"I've booked a campsite stay in the mountain parks but at the same time, I booked a campsite out on the prairie somewhere and that's my backup plan because I don't want to miss out on my vacation with my family."