The head of the Council of Saudi Chambers of Commerce Ajlan Al-Ajlan called on Friday called for a boycott of “everything Turkish” including imports; investment, and tourism. Al-Ajlan said it is “the responsibility of every Saudi to act”.
“Boycotting everything Turkish, whether on the level of imports, investment or tourism, is the responsibility of every Saudi — trader and consumer; in response to the continued hostility of the Turkish government against our leadership; our country and our citizens,” said Al-Ajlan in a post on Twitter.
The Turkish lira has taken a nosedive; descending to a record low last week at over 7.7 versus the US dollar. The lira is one of the world’s worst performing currencies this year; down 22 percent; according to Reuters.
In general; the impact of the coronavirus also combined with a currency crisis that began in 2018 has led to a sharp recession; with gross foreign exchange reserves at the central bank falling by nearly half this year.