Turkish President Recep Tayyip Erdogan’s visit to Saudi Arabia on Thursday highlighted the comprehensive strategic relations between the two countries, amid the Russian-Ukrainian crisis and its impact on the global economy and supply and food chains.
The visit is an extension of the trade, investment and economic relations, as well as the political ties between Riyadh and Ankara, according to economists and businessmen who spoke to Asharq Al-Awsat.
Dr. Abdul Rahman Baashen, head of the Al-Shorouk Center for Economic Studies in Jizan, said that the Turkish president’s visit to the Kingdom would result in a package of possible understandings to restore and strengthen economic relations, and increase trade exchange, leading to strategic partnerships aimed at exploiting the available opportunities in both countries.
The Saudi-Turkish economic ties are expected to see a steady development during the coming period, Baashen stressed, in light of the ambitious projects included in Saudi Vision 2030, as well as the privatization programs offered by the Kingdom, especially in the health and education sectors.
He also emphasized that Erdogan’s visit would reflect positively on many Turkish companies working in the Kingdom in the field of infrastructure, and would restore the presence of Saudi companies in the Turkish market in the sectors of contracting, financial and banking investments.
Baashen went on to say that Saudi Arabia was among Turkey’s eight largest trading partners in the world, adding that cooperation would further improve in light of the opportunities offered by Vision 2030.
He added that Erdogan’s visit was also expected to lead to harnessing investment capabilities and removing all obstacles for investors in both countries, especially with the resumption of the meetings of the Joint Business Council.