Istanbul holds joint forum to boost business relations between Turkish, Saudi businesses
Date
11/4/2024 6:43:27 AM
(MENAFN) On Sunday, the Turkish metropolis of Istanbul hosted a significant joint forum aimed at enhancing collaboration between Turkish and Saudi businesses. This event, organized by the Foreign Economic Relations Board of Türkiye (DEIK), served as a platform for business leaders from both nations to explore potential partnerships and growth opportunities.
At the Türkiye-Saudi Arabia Business Forum, Saudi Arabia's Commerce Minister Majid bin Abdullah Al-Qasabi emphasized the vital role of Turkish products within the Saudi market. He noted that Saudi Arabia could greatly benefit from learning from Türkiye’s achievements, particularly in the services sector. Al-Qasabi called for collaboration in various sectors, including mining, healthcare, and tourism, encouraging Turkish companies to participate in Saudi Arabia's ambitious Vision 2030 transformation plan.
Turkish Trade Minister Omer Bolat reinforced the positive trajectory of bilateral trade, announcing that Türkiye and Saudi Arabia are on track to exceed USD8 billion in mutual trade this year. Bolat set an ambitious target for 2025, aiming to surpass the USD10 billion mark, which he described as a psychological threshold for the two countries. He attributed this growing momentum to the commitment shown by the leaders of both nations and noted that economic and defense ties are "nearing an excellent level" while continuing to expand.
DEIK President Nail Olpak supported these optimistic projections, highlighting that the trade volume between Türkiye and Saudi Arabia had reached USD6.4 billion as of September. This figure underscores the strong economic relationship between the two countries and the potential for further growth as they seek to deepen their economic collaboration in the coming years.
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