The Saudi-Turkish Business Forum, scheduled to take place on March 4, represents significant economic cooperation between the two nations.
The conference, to be held at Riyadh International Convention and Exhibition Center, aims to strengthen commercial and economic ties between the business sectors of both countries, following the successful forum held in Istanbul in October 2023, which attracted over 700 companies.
According to the Saudi Press Agency, the program will include an exhibition displaying Turkish products, in addition to bilateral meetings between Turkish companies and businesspeople from the Kingdom.
SPA added that the forum seeks to enhance commercial ties and initiate several joint investment ventures, capitalizing on the promising economic prospects of both nations and the keen interest demonstrated by their leadership.
The event will be attended by Saudi Commerce Minister Majed Al-Qasabi and his Turkish counterpart Omer Polat.
It presents a significant economic opportunity to enhance the volume of Saudi-Turkish trade, which reached over SR26 billion ($6.93 billion) in 2023. The forum aims to elevate it to higher levels by fostering economic and investment partnerships between Saudi and Turkish companies, the report added.
Turkish companies participating in the event specialize in various sectors, including construction, contracting, and building materials, as well as automotive, spare parts, and textiles. Moreover, the event features companies specializing in food, furniture and energy.
It will also feature the participation of machinery, iron and steel firms. Additionally, companies in tourism, agriculture, and livestock, as well as health and logistics services will be present.
SPA added that several agreements across these specialized sectors will be signed on the sidelines of the forum between Turkish and Saudi companies.
About four months ago, the two sides held a similar forum in Istanbul, where they discussed investment opportunities and ways to increase trade exchange.
The gathering, organized by the Riyadh Chamber in cooperation with the Turkiye Exporters Assembly and Independent Industrialists and Businessmen’s Association, witnessed the signing of several agreements in various fields such as real estate, tourism, contracting, and infrastructure construction.