RIYADH: The Saudi-Turkish Business Forum, organized by the Federation of Saudi Chambers, kicked off on Sunday in Riyadh, the Saudi Press Agency reported
The event was attended by a number of companies and government agencies from both countries.
Saudi Minister of Commerce Majid Al-Qassabi stated during his speech at the forum that the Kingdom is experiencing an unprecedented renaissance and transformation as a result of ambitious leadership and vision. He went on to say that the forum will help to find new opportunities for economic cooperation between the two countries, citing minerals, tourism, housing and infrastructure, services, communications, and digitization.
The Turkish Minister of Trade Mehmet Mus stated that the Kingdom and Turkiye are emerging economic powers with significant competitive advantages, expressing their desire to increase trade volume to $10 billion in the coming years. Mus also stated that the Turkish economy is expanding rapidly and that there is a comprehensive investment incentive system in place. The minister urged Saudi companies to enter the Turkish market and capitalize on the opportunities.
The forum resulted in the signing of three commercial cooperation agreements between Saudi and Turkish business representatives to localize the manufacturing of welding equipment and supplies, as well as the production of high-tech trucks and tanks.
The forum also saw an agreement to launch a joint Saudi-Turkish automation and engineering project for the Middle East region.
