Saudi Arabia, Turkiye to initiate steps to boost economic relations

28 Jun '22

1 min read

Pic: Shutterstock

Saudi Arabia and Turkiye are planning to hold a business forum soon, according to Turkish trade minister Mehmet Mus, who recently told the Turkiye-Saudi Arabia Business and Investment Roundtable Meeting that from now on, trade activities will increase and accelerate between the two sides. Steps were initiated to pave the way for private sector partnerships.

Organised by Turkiye's Foreign Economic Relations Board (DEIK) in Ankara, the meeting was attended from the Saudi side by commerce minister Majid Bin Abdullah Al Qasabi and investment minister Khalid Al-Falih.

Underlining that Ankara and Riyadh could work together in regions such as Africa and East Asia, Al Qasabi praised Turkish companies as ‘ingenious and talented’, a news agency reported.

Al-Falih said there are investment projects and an opportunity worth $3.3 trillion.

This came after a recent visit by Saudi Crown Prince Mohamed bin Salman, during which he met 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.

ALCHEMPro News Desk (DS)

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