Makkah: A total number of 1,040 Saudi firms continue to operate in Turkey, with a trade exchange of $8 billion between the two countries, according to a senior adviser at the Investment Support and Promotion Agency of Turkey (ISPAT) Dr. Mustafa Kokso.
The trade exchange target is $20 billion after the diversification of the economic basket, Dr. Kokso told Asharq Al-Awsat, noting that Saudi Arabia and Turkey require new investment means that go in tandem with Saudi Vision 2030 and Turkish aspirations.
Dr. Kokso expressed Turkey’s interest in the Kingdom’s infrastructure, including airports and trains, and investment in economical buildings for low-income households, adding that 1,040 Saudi firms operate in Turkey.
Furthermore, economist Hadeel Abu Al-Aoula listed some of the investment advantages resulting from trade exchanges, saying that they consolidate the state’s economy and put it among the best investors and exporters globally.
Saudi Arabia was ranked seventeenth place among prime investing states in Turkey in 2017.
Abu Al-Aoula told Asharq Al-Awsat that Turkish-Saudi economic cooperation is passing through a phase of prosperity and mounting growth, and that it is also opening new dimensions for further ambitious bilateral projects.
The economist added that the Kingdom is providing legal assistance for investors through assigning a number of lawyers in its embassy in Ankara or its consulate in Istanbul. It also supplies investors with any information that facilitates goal-oriented investment operations serving both countries.
Speaking about major Turkish industries that attract Saudis, Abu Al-Aoula mentioned the machine, food, mineral, consumer product and fabric industries.
1,040 Saudi companies operating in Turkey
1,040 Saudi companies operating in Turkey
