Middle-east Arab News Opinion | Asharq Al-awsat

Saudi, Turkish Officials to Explore Joint Projects in Renewable Energy, Defense | ASHARQ AL-AWSAT English Archive 2005 -2017
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Turkish President Recep Tayyip Erdogan meets with King Salman bin Abdulaziz in Riyadh, Saudi Arabia (AP Photo/SPA)

Riyadh – A new round of Saudi-Turkish economic discussions would be launched end of this month in Jeddah, to explore eight fresh investment opportunities in renewable energy, urban development, automotive industry and defense.

Speaking to Asharq Al-Awsat newspaper, Chairman of Saudi-Turkish Business Council Mazen Rajab said that joint investment projects would be unveiled soon, adding that a meeting would be held in Jeddah at the end of February between the Council and a delegation of independent businessmen visiting Saudi Arabia for this purpose.

Rajab also noted that the Kingdom would host an economic meeting on March 21 between the joint economic committee and the business council to discuss the means to launch projects in the sectors of renewable energy, automotive industry, in addition to defense and health industries.

The chairman of Saudi-Turkish Business Council expected commercial exchange between the two countries to exceed $8 billion, hoping that investment and commercial cooperation between Turkey and Saudi Arabia would be further boosted in light of the Kingdom’s Vision 2030.

He noted in this regard that Turkish and Gulf officials were currently working on the establishment of a free trade agreement between Turkey and Gulf States.

Rajab lauded the existing economic relations between Saudi Arabia and Turkey, saying recent economic and political meetings would reflect positively on both countries’ efforts to boost cooperation and collaboration at all levels.

He added that both Saudi and Turkish leaderships were keen on strengthening economic and commercial ties to face the difficult conditions in the region.

The Saudi-Turkish Business Council was established during a visit conducted by the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, to Ankara last April.