The warm climate between ANKARA and Riyadh was reflected in trade. Saudi Arabia presented three proposals: We are going to joint investments in 3rd countries. Have a Turkish fair. It was said that Turkish companies should participate in infrastructure projects worth US$3.3 trillion. Saudi Arabia’s Investment Minister Al-Falih said: “We have a sophisticated private sector. We will take a step towards renewing good relations and establishing solid relations between the two countries. There are investment projects. “There is an opportunity for 3 .3 trillion dollars,” he said.
According to the Foreign Economic Relations Board (DEIK) statement, the second session of the Turkey-Saudi Arabia Business and Investment Roundtable organized by the DEIK as part of the visit of Saudi Arabia’s Crown Prince Mohammed bin Salman to Turkey, Minister of Commerce Mehmet Muş, Saudi Arabia Held in Ankara with the participation of Minister of Commerce Macid bin Abdullah Al Kasabi, Minister of Investment of Saudi Arabia Khalid bin Abdulaziz Al-Falih and moderated by DEIK President Nail Olpak.
In his speech here, Minister Muş highlighted that they held meetings with the relevant interlocutors and said: “Commercial activities will accelerate. From now on, it will be much faster.” said.
Stating that they had the companies meet with the ministers individually, Muş said: “We make up for lost time here. We are going to organize the Turkey-Saudi Arabia Business Forum in a short time. Now we are going to take a step forward. We are together with our representatives from the sector in the opportunities mentioned by the Ministers. As of today, our bilateral trade relations will develop, will increase.” made your assessment.
“No problem with customs”
Saudi Arabia’s Trade Minister Al Kasabi also noted that the two countries are working together to maximize their relations.
Referring to the opportunities between the two countries, Al Kasabi said: “We can go to other continents like Africa and East Asia or to other countries. We know that Turkish companies are resourceful and talented. We will efficiently build the future for our relations between the two countries”. he used the expressions.
Emphasizing that there have been no problems with customs to date, Al Kasabi continued:
“We have political will, technical support and human resources. What do we have left? We are going to draw up a plan and establish partnerships in third countries such as two countries. We are going to hold the Turkey-Saudi Arabia Business Forum soon. First in Saudi Arabia and then in Turkey .” Let’s do that too. Let’s have a fresh start. Let’s work as brothers as people of both countries, let’s move forward.”
“Let’s work together for investment opportunities”
Saudi Investment Minister Al-Falih said they were guided by Saudi Arabia’s Crown Prince Mohammed bin Salman to meet with representatives from the business world and meet with Turkish representatives.
Stressing that they will work together on the path where there are opportunities, Al-Falih recalled that Turkey and Saudi Arabia are G20 countries.
“There is a $3.3 trillion opportunity”
Al-Falih said: “We have a sophisticated private sector. We will take steps to renew good relations and establish solid relations between the two countries. There are investment projects. There is an opportunity of 3.3 trillion dollars. That corresponds to 14.4 trillion of Saudi dollars.” he made his assessment.
Emphasizing his belief that profound opportunities can be gained between the two countries, Al-Falih said, “Investments can be a forward-looking engine for the economy of both sides. Turkish investors can see Saudi Arabia as a stop and make their work.” used the phrase.
Al-Falih stated that the costs are low in Saudi Arabia, that they want to take measures such as forums and bilateral business meetings between companies between the two countries and that they will provide all access support in this regard.
“We will do our best to develop cooperation”
DEİK President Olpak highlighted that the Round Table held yesterday with the Saudi Arabian delegation and Turkish businessmen was a good occasion for the resumption of bilateral cooperation with many meetings and 2 signed agreements.
Affirming that steps have been taken to pave the way for private sector partnerships at official meetings between the two countries, Olpak said:
“We will work to develop cooperation in the targeted sectors. As representatives of the business world of the two countries, we have lost some years in our trade relations. Our ministers are here to pave the way for us. We will work more like businessmen. Our Turkish companies are waiting to increase our cooperation. In the next process, the leaders will lead the way for us, and we as a business world will follow.
Olpak stressed that they think they will reach a mutual trade volume of $10 billion by 2023, provided their path is clear and political will is in the middle.
The meeting, sponsored by the Gürsoy Group and the Hashim Group, was attended by Deputy Minister of Trade Murat Tuzcu, Deputy Minister of Investment of Saudi Arabia Badr Al Badr, Ambassador of Turkey in Riad Fatih Ulusoy, DEİK/Turkey-Saudi Arabia Chairman of the Business Council Fatih Gürsoy and entrepreneurs.