Türkİye, Middle East

Türkiye, Saudi Arabia to take steps to boost economic relations

During official meetings, Ankara and Riyadh take steps to pave way for private sector, says senior business official

Zeynep Cetinkaya   | 25.06.2022
Türkiye, Saudi Arabia to take steps to boost economic relations


Türkiye and Saudi Arabia are planning to hold a business forum soon as the two countries enter a period of developing bilateral trade relations, the Turkish trade minister has said at a business meeting.

From now on, trade activities will increase and accelerate between the two sides, Mehmet Mus said at the Türkiye-Saudi Arabia Business and Investment Roundtable Meeting on Thursday, according to a statement from Türkiye's Foreign Economic Relations Board (DEIK).

Organized by DEIK in the Turkish capital Ankara, the meeting was attended by Saudi Commerce Minister Majid Bin Abdullah Al Qasabi, Investment Minister Khalid Al-Falih, along with Türkiye's Mehmet Mus, and Nail Olpak, the head of the board.

Al Qasabi said both sides sought to maximize bilateral relations and added: "Let's build the future efficiently for our relations between the two countries."

Underlining that Ankara and Riyadh could work together in regions such as Africa and East Asia, he praised Turkish companies as "ingenious and talented."

"Let's make a plan and establish partnerships in third countries, as two countries.

"Let's work as brothers, let's move forward as the people of the two countries," said the Saudi commerce minister.

Al-Falih also said the two sides would move towards renewing good relations and establishing solid ties.

"There are investment projects, there is an opportunity worth $3.3 trillion," he said, stressing that investments could serve as a locomotive for both economies.

Olpak, for his part, stressed that the roundtable meeting, hosting two agreements, would be a good restart for the relations of Türkiye and Saudi Arabia.

During official meetings between the two countries, steps were taken to pave the way for private sector partnerships, he added.

"As the businesses of the two countries, we lost a few years in our commercial relations, our ministers are here to pave the way for us, we will work harder as business people," he added.

This came after a landmark visit by Saudi Crown Prince Mohamed bin Salman earlier in the week, during which he met with Turkish President Recep Tayyip Erdogan and discussed improving ties between the two countries.

Relations between Ankara and Riyadh had been strained in recent years due to foreign policy differences.

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