Al-Falih: $8 billion volume of trade exchange between Saudi Arabia and Turkey

Minister of Investment M. said: Khaled Al-Falih: The volume of trade exchange between Saudi Arabia and Turkey has reached about 8 billion dollars, noting that trade exchange between the two countries has grown by 14% in one year.

This came during the minister’s speech at the Saudi-Turkish Investment Forum held today in Riyadh.

Two billion dollars in Turkish investments

Al-Falih added that direct Turkish investments in Saudi Arabia exceeded two billion dollars, noting the issuance of 1,473 investment records for active Turkish companies in the Kingdom. Until the end of last year.

The Minister indicated that the presence of a Turkish trade delegation that includes more than 200 companies interested in strengthening trade, economic and investment relations with Saudi Arabia, in addition to a number of regional offices of Turkish companies, reflects the depth of the strategic partnership between the two countries and confirms that economic cooperation and the role of the private sector constitute a fundamental pillar in its development.

Al-Falih stated that the Saudi-Turkish Investment Forum reflects an unprecedented level in economic relations between the two countries, while the forum represents our determination to move from The stage of dialogue and exploration to the stage of actual implementation.

He pointed out that the indicators reflect the strength of trade relations and their accelerating growth between the two countries.

Saudi-Turkish summit

The minister said: Later, Saudi Arabia will receive Turkish President Recep Tayyip Erdogan on an official visit, and he will hold a summit with His Royal Highness Prince Mohammed bin Salman, Crown Prince and Prime Minister.

He added that the visit aims to push bilateral relations to a higher level of partnership, as we look forward to To move from the stage of prosperous relations to a deeper strategic relationship

The Minister pointed out that the current stage of the Saudi-Turkish cooperation process is very important given its timing and the changes the world is witnessing.

The Minister explained that Saudi Arabia and Turkey are two basic pillars of the region’s economy, as they together constitute approximately 50% of its gross domestic product and a major share of its global trade and foreign direct investment flows.

He pointed out that the advantages that investors aspire to are Enjoyed by both Saudi Arabia and Turkey, it confirms that the economies of the two countries are more complementary than competitive.

The minister said: "Türkiye has distinguished capabilities and expertise in many sectors, and a strong presence of its private sector in several sectors, supported by a highly skilled workforce and deep integration with European markets, which Türkiye has a free trade agreement with."

Saudi-Turkish Investment Forum

The activities of the Saudi-Turkish Investment Forum were launched today, Tuesday, in Riyadh, in the presence and participation of officials, leaders of the private sector and companies from the two countries. With the aim of enhancing economic and investment cooperation in various sectors, discussing aspects of cooperation in areas of common interest between the two countries, and exploring investment opportunities in the Kingdom.

The forum’s activities include presentations on investment in the two countries, and discussion sessions on a number of topics aimed at strengthening bilateral relations in various fields.

The forum will include bilateral meetings between representatives of the private sector from both sides to discuss opportunities for cooperation and partnership and learn about the investment opportunities available in the two countries.

It is reported that Riyadh In 2016, Ankara signed an agreement to establish the Saudi-Turkish Coordination Council, with the aim of developing relations between the two countries in the political, economic, defense and security fields.

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