Turkish and Saudi Business Figures Convene in Over 1400 Bilateral Business Discussions
The normalization of political relations between Türkiye and Saudi Arabia continues to manifest positive implications in trade. Under the coordination of the Ministry of Trade and in collaboration with TİM and MÜSİAD, the 'Saudi Arabia General Procurement Delegation' program saw the participation of representatives from 55 Saudi firms in Istanbul. In the span of a single day, the Turkish exporters engaged in more than 1400 bilateral business discussions with their Saudi counterparts.
Organized in Istanbul through the coordination of the Ministry of Trade and in collaboration with the Independent Industrialists' and Businessmen's Association (MÜSİAD), the 'Saudi Arabia General Procurement Delegation' program witnessed the attendance of representatives from over 650 Turkish exporters and 55 Saudi firms. Ahmet Güleç, who hosted the program, underscored the significance of Türkiye and Saudi Arabia as two prominent actors in their respective regions.
Güleç noted that despite occasional challenges, the bonds between the two countries are steadily strengthening. He continued:
"In tandem with the development of political relations between our nations, we have observed a substantial upward trend in our exports. Our exports to Saudi Arabia for the first nine months of this year have exceeded 1.8 billion dollars, marking an approximate 300% increase compared to the same period last year. We also observe a notable surge in the number of companies exporting to Saudi Arabia. Throughout 2022, 3,560 of our companies engaged in exports to Saudi Arabia, while in the first nine months of this year, the number has exceeded 5,600. I am aware that there exists a potential to significantly expand the current trade volume, which presently stands at 6 billion dollars between our nations. As reaffirmed in today's meeting, both sides exhibit a strong determination to unleash this potential".
MISIRLI: IN JANUARY, WE WILL TAKE A THOUSAND OF OUR BUSINESSPEOPLE TO SAUDI ARABIA
Gazi Mısırlı, Vice Chairman of the MÜSİAD International Business Forum (IBF), also announced in his speech that they will soon host a new delegation of 50 people from Saudi Arabia in Istanbul. Mısırlı stated,
"Furthermore, on January 14, 2024, with the participation of our Minister of Trade, Ömer Bolat, and the Minister of Trade of Saudi Arabia, Macid bin Abdullah Al Kasabi, we will hold the 28th International Business Forum in Saudi Arabia under the auspices of MÜSİAD. We aim to bring a thousand businesspeople from Türkiye to the event, and we expect nearly the same number of participants from Saudi Arabia".
NAIF ALRAJHI: EAGERLY AWAITING THE STRENGTHENING OF OUR PARTNERSHIP
Vice Chairman of the Riyadh Chamber of Commerce, Naif Alrajhi, stated that their visit to Istanbul is a continuation of efforts to strengthen commercial relations between the two countries. Describing the visit as a roadmap to enhance mutual trade relations, Alrajhi expressed, “You are witnessing our development and progress in line with our 2030 vision aimed at restructuring our economy and diversifying our sources of national income. The growth of our national economy and the increase in our level of prosperity have contributed significantly not only to domestic investments but also to the expansion of the volume of foreign companies. We eagerly await the strengthening of our partnership for Turkish companies to benefit from these opportunities”.
Following the opening speeches, the program continued with bilateral business meetings, where over 1,400 such meetings took place between 650 Turkish exporters and 55 Saudi firms.