Riyadh, March 05, 2024, The Riyadh Chamber of Commerce played host to the Saudi-Turkish Business Forum and Turkish Products Fair on March 4, 2024, at the Riyadh International Convention and Exhibition Center. Dr. Majid Al-Qasabi, the Saudi Minister of Commerce, underscored the robust relations between Saudi Arabia and Turkiye during the event. He emphasized the potential for enhanced collaboration, citing Saudi Arabia's ongoing transformation driven by visionary leadership, an ambitious national vision, and a youthful population constituting 80%.
Dr. Al-Qasabi highlighted the Kingdom's substantial oil and mineral resources, estimated at $1.5 trillion, which play a significant role in its transformative journey. Minister of Investment Eng. Khalid Al-Falih engaged with representatives from Turkish construction companies, emphasizing the burgeoning Saudi economy and the vast investment opportunities, particularly in the construction sector valued at $152 billion. He pointed out that the targeted capital expenditure from 2022 to 2030 exceeds $3.3 trillion, with potential construction contracts ranging from $1.6 trillion to $1.8 trillion.
Turkish Minister of Trade Dr. Omer Bolat stressed the forum's importance in strengthening trade and economic ties between the two nations. He noted the achievement of a $6.2 billion trade volume in 2023 and expressed optimism for further growth. Dr. Bolat highlighted Turkish companies' eagerness to leverage investment opportunities arising from Saudi Vision 2030.
Naif Al-Rajhi, Second Vice Chairman of the Riyadh Chamber, emphasized the forum's role in building upon partnerships established during the Saudi-Turkish Business Forum in Istanbul last October, which resulted in several cooperation agreements. The event concluded with the signing of new agreements between Saudi and Turkish companies, further solidifying the economic ties between the two nations.
