New move for Saudi Arabia-Türkiye's 30 billion dollar trade volume target
A new move has come for the 30 billion dollar trade volume target between Saudi Arabia and Türkiye. Approximately 80 people, consisting of representatives of nearly 65 Saudi Arabian companies, will be in Türkiye between October 8-12.
An important step has been taken for the 30 billion dollar trade volume target between Saudi Arabia and Türkiye. The 80-person procurement delegation, consisting of representatives of nearly sixty-five Saudi Arabian companies, will be in Türkiye between 8-12 October, according to officials.
Following Turkish President Recep Tayyip Erdogan's visit to the Gulf region in July, contacts to improve bilateral relations with Saudi Arabia continue.
Most recently, cooperation protocols were signed between Türkiye and Saudi Arabia to encourage direct investment, communication, defense, and energy. Now Türkiye, under the coordination of the Trade Ministry, is preparing to host Saudi Arabian business people in order to increase exports to the country and to promote export products.
80-PERSON BUYING DELEGATION TO COME
Accordingly, a Saudi Arabia General Buying Delegation program will be organized to improve trade relations with Saudi Arabia. Within the scope of the program, a procurement delegation of approximately 80 people, consisting of representatives of nearly 65 Saudi Arabian companies from various sectors, will be in Türkiye between October 8-12. The delegation will hold bilateral business meetings with exporter companies at a hotel in Istanbul on October 10.
AGREEMENTS IN MANY SECTORS ON AGENDA
Within the scope of the program, it was learned that the companies in the delegation to Türkiye operate in the fields of ferrous and non-ferrous metals, electronics, cereals, pulses, oil seeds, and products, air conditioning industry, chemicals and products, jewelry, services, mining products, machinery and components, furniture, paper and forestry products, automotive industry, textile, and raw materials, fresh fruits and vegetables.
In bilateral meetings, it was stated that commercial agreements and cooperation could be made primarily in these areas.
LONG TERM AIM 30 BILLION DOLLAR
Türkiye and Saudi Arabia had a trade volume of 6.5 billion dollars last year. The trade volume between the two countries reached 3.4 billion dollars in the first six months of this year.
Turkish Trade Minister Omer Bolat also made a statement regarding foreign trade between Türkiye and Saudi Arabia.
"Our goal is to increase mutual trade to 10 billion dollars in the short term and 30 billion dollars in the long term,” he said.
Source: turkiyegazetesi.com.tr
