Saudi Arabia and Turkiye Strengthen Industrial and Mining Cooperation
In a bid to enhance collaboration in the industrial and mining sectors, Saudi Arabia and Turkiye are ramping up efforts following recent high-level meetings.
Deputy Minister of Industry and Mineral Resources for Industrial Affairs Khalil bin Salamah from the Kingdom delved into promising investment opportunities and joint industrial capacity building during his official visit to Turkiye.
Accompanied by Saudi private sector officials, this visit builds upon discussions initiated by Minister of Industry and Mineral Resources Bandar Alkhorayef during his official visit to Turkiye in August 2023.
The aim of the discussions is to strengthen joint efforts in the industrial and mining sectors, boost trade and non-oil exports, and attract quality investments in these sectors.
With the volume of trade between Saudi Arabia and Turkiye hitting $6.8 billion in 2023, Saudi firms have already invested over $2 billion in Turkiye, according to Turkiye’s Trade Minister Mehmet Mus.
Turkiye anticipates that bilateral trade with the Kingdom will soar to $10 billion in the near future, as per the Turkish official’s remarks during the Saudi-Turkish Business Forum in Riyadh in March 2023.
During his visit this month, Salamah met with President of the Defense Industry Agency Haluk Gorgun and Deputy Secretary-General of the Turkish Exporters Assembly Gokhan Yuceer, in the presence of Saudi Ambassador to Turkiye Fahd bin Asaad Abu Al-Nasr.
Salama also led a roundtable meeting between Saudi and Turkish representatives at the Foreign Economic Relations Turkish Board to explore industrial and commercial cooperation opportunities, with attendance from various Turkish companies, as reported by the Saudi Press Agency.
His visit included stops in Turkish cities like Ankara, Eskisehir, and Istanbul, where he visited private sector companies and institutions such as ASELSAN, Roketsan, Turkish Aerospace, TEI, TEI Metal, TEI Alloys, and the Middle East Technical University.
During these visits, Salamah engaged in bilateral meetings to discuss unique investment opportunities in the industrial and mining sectors and the development of industrial and knowledge capacities.
In Istanbul, Salamah met with Saudi students studying in Turkiye alongside Faisal Osrs, the cultural attache at the Kingdom’s Embassy in Ankara.
Earlier this month, Turkish President Recep Erdogan hosted Saudi Foreign Minister Prince Faisal bin Farhan in Istanbul to bolster bilateral relations and discuss regional stability efforts, as reported by SPA.
The meeting between Prince Faisal and the Turkish president also involved Undersecretary of the Ministry of Foreign Affairs for Political Affairs Saud Al-Sati and Saudi Ambassador to Turkiye Fahad Abu Al-Nasr.
Prince Faisal also met with his Turkish counterpart Hakan Fidan, who highlighted the significant progress in Saudi-Turkish relations across political, economic, and security domains during a press conference.