Türkiye hosts joint forum to enhance trade ties between Turkish, Saudi firms
Date
11/4/2024 7:59:56 AM
(MENAFN) On Sunday, Istanbul served as the backdrop for a significant joint forum aimed at enhancing business collaboration between Turkish and Saudi enterprises. Organized by the Foreign Economic Relations Board of Türkiye (DEIK), the Türkiye-Saudi Arabia Business Forum gathered key business leaders from both nations to explore opportunities for partnership and investment. This event underscored the mutual interest in strengthening economic ties and fostering greater cooperation across various sectors.
During the forum, Saudi Arabia's Commerce Minister, Majid bin Abdullah Al-Qasabi, emphasized the critical role that Turkish products play in the Saudi market. He expressed admiration for Türkiye's achievements, particularly in the services sector, highlighting the lessons that can be gleaned from its successes. Al-Qasabi also called for joint ventures in sectors such as mining, healthcare, and tourism, encouraging Turkish businesses to actively participate in Saudi Arabia's ambitious Vision 2030 transformation plan.
Turkish Trade Minister Omer Bolat provided insights into the robust trade relationship between Türkiye and Saudi Arabia, announcing an expected mutual trade volume exceeding USD8 billion by the end of this year. He outlined the target of surpassing the USD10 billion mark by 2025, attributing this positive trajectory to the dedication of the leadership in both countries. Bolat noted that the economic and defense ties between Türkiye and Saudi Arabia are developing rapidly and have reached a commendable level of cooperation.
DEIK President Nail Olpak echoed the optimism surrounding the trade relationship, revealing that the trade volume had already hit USD6.4 billion as of September. He expressed confidence in the potential for this figure to surpass USD10 billion, advocating for increased investment in joint projects, particularly those involving collaboration in third countries, with a special focus on opportunities in Africa. This sentiment reflects a shared vision for the future, marked by deepening ties and a commitment to mutual growth.
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