Saudi-Turkish Business Forum Discusses Increasing Volume of Trade

The Riyadh Chamber of Commerce, the Türkiye Exporters Assembly and the Turkish Independent Industrialists and Businessmen Association (MUSIAD) held yesterday the Saudi-Turkish Business Forum in Istanbul to discuss investment opportunities and increase trade exchange.

 Representatives of over 700 Saudi and Turkish companies took part in the forum, signing agreements in real estate, tourism, contracting and construction of infrastructure, and holding meetings to discuss investment opportunities.

 Vice Chairman of the Board of Directors of Riyadh Chamber and head of the Saudi delegation Naif Al-Rajhi said the forum is expected to contribute to boosting commercial relations and creating opportunities to increase the volume of trade, which until August this year had reached over SAR16 billion. He added that the Kingdom is witnessing an economic and development renaissance, in line with the Saudi Vision 2030 that aims to restructure the economy and diversify sources of national income by increasing the volume of local and foreign investments.

 Al-Rajhi also said that he was looking forward to further partnerships between Saudi and Turkish companies, which could take advantage of the opportunities provided by the Vision 2030 programs, and that the Saudi business sector is keen to cooperate with its Turkish counterpart.

 Among participants in the forum from the Riyadh Chamber, Al-Rajhi said, are representatives of the General Authority of Foreign Trade, the Saudi Export-Import Bank, the Saudi Fund for Development, the Saudi Geological Survey, and the Saudi Export Development Authority.

 International Business Forum Vice President Ghazwan Al-Masry said he was optimistic that the year would end with trade exchange exceeding double figures due to the great support lent to trade relations by the leaderships of the two countries, adding that the Saudi-Turkish Business Forum is only the beginning, as other meetings will be held in the Kingdom and Türkiye to achieve the aspired volume of trade exchange.

 Türkiye Exporters Assembly Deputy Chairman Ahmet Gulec said that the Riyadh Chamber delegation begins a series of meetings held to support trade cooperation.

 The Riyadh Chamber's organization of the visit, the introduction of Turkish industry and trade, and contribution to organizing a Saudi-Turkish forum are appreciated by the Turkish business sector, Gulec said.