Turkish President Recep Tayyip Erdoğan‘s go to to Saudi Arabia subsequent week will cement bilateral relations, the Saudi minister for municipal affairs and housing mentioned on Wednesday.
Speaking on the Türkiye-Saudi Arabia Business Forum in Istanbul, Majed Al Hogail mentioned the oil-rich Gulf kingdom is completely happy to work with Ankara as it is going to enhance commerce and enhance the well-being of the folks.
“Within the framework of Vision 2030, we want to benefit from the Turkish business world in the fields of contracting, housing development, infrastructure and engineering,” he mentioned.
The Vision 2030 goals to cut back the Saudi financial system’s dependence on oil and diversify the financial system with dozens of tasks deliberate for the general public service sectors.
“We offer serious opportunities for this, laws and investment support, including bank loans,” he mentioned.
“There is huge business potential, we will be happy to see and support Turkish investors here,” he mentioned.
He additionally invited Turkish business folks to Riyadh in September for the foremost actual property expo Cityscape Global.
$30B TARGET FOR BILATERAL TRADE
Türkiye’s Trade Minister Ömer Bolat mentioned the 2 international locations’ bilateral commerce, which was at $6.5 billion final yr, reached $3.4 billion within the first half of this yr.
The two international locations’ bilateral commerce goal is $10 billion for the quick time period and $30 billion for the long run, he mentioned.
Highlighting their strategic geographical location, he mentioned they’re situated on the junction of Asia, Europe and Africa, and have a strong infrastructure for conducting business.
“Our exporters are reliable trade partners for Saudi Arabia, our contractors have assumed many projects worth $25 billion so far,” he mentioned.
The two international locations’ precedence is increasing the scope of bilateral commerce and diversifying merchandise.
Touching on the free commerce settlement (FTA) between the 2 international locations, he mentioned Türkiye started discussions with the Gulf Cooperation Council for the FTA.
Nail Olpak, the pinnacle of Türkiye’s Foreign Economic Relations Board (DEIK), recalled that Erdoğan visited Saudi Arabia final yr and Saudi Crown Prince Mohammed bin Salman visited the Turkish capital Ankara.
After the go to, he mentioned the convenience of doing business elevated quickly.
He mentioned Turkish corporations are aggressive and will cooperate with their Saudi counterparts within the financing sector.
Source: www.anews.com.tr
