Saudi and Turkish business sector representatives signed several joint agreements in various fields during the "Saudi-Turkish Business Forum" in the capital, Riyadh. The forum witnessed the presence of Saudi Trade Ministers Majid Al-Qasabi and Turkish Mohammed Mush, and the participation of more than 450 Saudi and Turkish companies and a number of government agencies in the two countries."
In his speech, the Saudi Minister of Commerce stressed that "the forum will contribute to finding new opportunities for economic cooperation between the two countries."
For his part, the Turkish Minister of Trade stressed, "The Kingdom and Turkey are emerging economic powers and have great competitive advantages," pointing out, "We look forward to raising the volume of trade exchange (with the Kingdom) to 10 billion dollars in the coming years." Explaining that "The Turkish economy is growing at an accelerated pace, and there is a comprehensive investment incentive system and a huge market that includes 1 billion consumers in Turkey, the European Union countries, and the free trade area."
In turn, the head of the Federation of Saudi Chambers, Hassan Al-Huwaizi, stressed, "The Saudi-Turkish relations that emerged in 1929 are among the best international models, as these relations receive attention from the leadership of the two countries. This was positively reflected in the formation of the Saudi-Turkish Coordination Council to be a platform for cooperation at all levels and the agreement in 2022 to develop and diversify bilateral trade and facilitate trade exchange."
Al-Huwaizi pointed out "There are 1,140 Saudi companies investing in Turkey and 390 Turkish companies in the Kingdom, in the sectors of construction, manufacturing, wholesale and retail trade, and restaurants."
The forum witnessed the signing of eight commercial cooperation agreements between representatives of the Saudi and Turkish business sectors in the field of localizing the manufacture of welding equipment and supplies, and the manufacture of trucks and tanks, including the establishment of a joint venture in automation and engineering for the Middle East.
Source (Anadolu Agency, Edited)
