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Erdogan is Set to Leave to Saudi Arabia
(MENAFN) Turkish President Recep Tayyip Erdogan is set to visit Saudi Arabia on Tuesday accompanied by a delegation of business leaders to discuss enhancing trade, promoting mutual investments, and expanding private sector collaboration, according to a representative from the Turkish business community.
Hasim Sungu, chair of the Türkiye-Saudi Arabia Business Council at the Foreign Economic Relations Board (DEIK), stated that key meetings will take place during Erdogan’s visit, reflecting the two countries’ intent to strengthen ties across economic, political, and related sectors.
“Erdogan’s visit to Saudi Arabia represents the will of the two countries to elevate their relations, especially in economy and investments, as well as further advancing private sector cooperation,” Sungu said. He highlighted that Saudi Arabia’s Vision 2030 program aligns closely with Türkiye’s capabilities in industry, production, engineering, and technology, and noted that the visit presents significant opportunities for Turkish businesses to deepen relations and launch new investment projects.
Sungu pointed out that the Türkiye-Saudi Arabia trade volume recently exceeded $8 billion, but emphasized that the long-term potential should reach around $30 billion, considering the scale of both economies. He added that achieving this goal requires moving beyond traditional trade practices, increasing investments, supporting domestic production, and focusing on project-based cooperation.
He identified sectors with strong potential for collaboration and investment, including energy, infrastructure, construction, industry, defense, healthcare, tourism, and digital transformation, stressing that closer engagement between the business communities of the two countries will be key to realizing these opportunities.
Hasim Sungu, chair of the Türkiye-Saudi Arabia Business Council at the Foreign Economic Relations Board (DEIK), stated that key meetings will take place during Erdogan’s visit, reflecting the two countries’ intent to strengthen ties across economic, political, and related sectors.
“Erdogan’s visit to Saudi Arabia represents the will of the two countries to elevate their relations, especially in economy and investments, as well as further advancing private sector cooperation,” Sungu said. He highlighted that Saudi Arabia’s Vision 2030 program aligns closely with Türkiye’s capabilities in industry, production, engineering, and technology, and noted that the visit presents significant opportunities for Turkish businesses to deepen relations and launch new investment projects.
Sungu pointed out that the Türkiye-Saudi Arabia trade volume recently exceeded $8 billion, but emphasized that the long-term potential should reach around $30 billion, considering the scale of both economies. He added that achieving this goal requires moving beyond traditional trade practices, increasing investments, supporting domestic production, and focusing on project-based cooperation.
He identified sectors with strong potential for collaboration and investment, including energy, infrastructure, construction, industry, defense, healthcare, tourism, and digital transformation, stressing that closer engagement between the business communities of the two countries will be key to realizing these opportunities.
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