With an ambition to bolster commerce, Turkiye sets its sights on a $30 billion trade goal with Saudi Arabia for the upcoming years. The recent figures showcase a promising $6.8 billion bilateral trade volume in 2023, and Saudi investments in Turkiye have reached the $2 billion mark, according to statements from Turkiye’s Vice President Cevdet Yilmaz reported by a state-run news agency.
We believe investments can increase easily through more frequent events that can bring together our countries’ business worlds,
Yilmaz expressed, highlighting the significance of collaborative events in strengthening economic ties.
Investment opportunities in Turkiye are abundant, spanning sectors like technology, defense, renewable energy, petrochemicals, finance, tourism, and housing, all part of the nation’s international investment strategy.
- A total of 27 agreements were inked during the Turkiye-Saudi Arabia Investment and Business Forum in Istanbul, signifying a robust partnership.
- Turkiye’s exports showed resilience with a modest increase to $255.7 billion in 2023, in spite of the tragic earthquakes.
- Visitor numbers from Saudi Arabia surged by 70%, with approximately 830,000 tourists in 2023.
Yilmaz reaffirmed Turkiye’s commitment to fostering a conducive environment for Saudi investors, while also acknowledging the kingdom’s potential as a fertile ground for Turkish entrepreneurs.