Turkey and Saudi Arabia to take steps to boost economic ties

ANKARA

Turkey and Saudi Arabia plan to hold a business forum as soon as the two countries enter a period of developing bilateral trade relations, Turkish Trade Minister said during a business meeting.

From now on, business activities will increase and accelerate between the two sides, Mehmet Mus said during the Turkey-Saudi Arabia business and investment roundtable on Thursday, according to a statement from the Council on Foreign Economic Relations. (DEIK) from Turkey.

Organized by DEIK in the Turkish capital Ankara, the meeting brought together Saudi Minister of Commerce Majid Bin Abdullah Al Qasabi, Minister of Investment Khalid Al-Falih, as well as Mehmet Mus of Türkiye and Nail Olpak, the head of the council of ‘administration.

Al Qasabi said the two sides seek to maximize bilateral relations and added, “Let us effectively build the future of our relations between the two countries.”

Stressing that Ankara and Riyadh could work together in regions such as Africa and East Asia, he hailed Turkish companies as “ingenious and talented”.

“Let’s make a plan and build partnerships in third countries, like two countries.

“Let’s work like brothers, let’s move forward like the peoples of the two countries,” said the Saudi trade minister.

Al-Falih also said that the two sides will strive to restore good relations and build strong ties.

“There are investment projects, there is an opportunity worth $3.3 trillion,” he said, noting that the investments could serve as a locomotive for the two economies.

Olpak, for his part, pointed out that the round table, hosting two agreements, would be a good restart for the relations of Turkey and Saudi Arabia.

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

“As companies from both countries, we have lost a few years in our trade relations, our ministers are there to pave the way for us, we will work harder as businessmen,” he said. added.

This follows a historic 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 relations between the two countries.

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

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