Istanbul, Turkey – Saudi and Turkish companies, part of the Saudi-Turkish Business Council, signed eight trade agreements to strengthen trade and investment between the two countries.
The Federation of Saudi Chambers, Saudi General Authority of Foreign Trade, and Turkish Foreign Economic Relations Board co-organized the meet between the two.
It discussed the trade and investment opportunities in the two countries, especially those envisaged in the Saudi Vision 2030 and the prioritized sectors of the Turkish economy, the role of the council, and to boost economic relations.
The volume of trade between Saudi Arabia and Türkiye reached SAR22 billion ($5,864,813,240) in 2022, recording a growth rate of 32.6 percent.
The Turkish minister said that the strategic objective is to increase the volume of trade to $10 billion, in the medium term, and $30 billion in the long term,
He added that Turkish construction companies have pledged to carry out 400 projects, valued at $28 billion, in Saudi Arabia while 1,400 Saudi companies were established in Türkiye.
