Erdoğan’s Saudi visit aims to transform trade into long-term investment partnership

Turkish President Recep Tayyip Erdoğan is visiting Saudi Arabia on Tuesday accompanied by a high-level business delegation, with the aim of boosting trade volume, promoting mutual investments, and deepening private sector cooperation. Hasim Sungu, Chairman of the Türkiye-Saudi Arabia Business Council at the Foreign Economic Relations Board (DEİK), told Anadolu that the visit reflects both countries’ commitment to advancing economic and investment ties.

Aligning with Saudi Vision 2030

Sungu noted that Saudi Arabia’s Vision 2030 development agenda aligns well with Türkiye’s industrial, engineering, and technological capacities. He highlighted that Saudi mega-projects such as NEOM, Qiddiya, the Red Sea Destination, and the AlUla Project offer significant opportunities for Turkish companies in construction, infrastructure, technology, and tourism.

Targeting $30 Billion Trade Volume

While bilateral trade recently exceeded $8 billion, Sungu emphasized the potential to reach around $30 billion in the long term, given the size of both economies. “The way to achieve such goals is to transcend the traditional understanding of trade and boost investments, support domestic production, and conduct project-based cooperation,” he stated. Strengthening direct business-to-business contacts is seen as key to building more balanced and sustainable economic relations.

Strategic Sectors for Cooperation

Areas highlighted for enhanced collaboration include energy, infrastructure, construction, industry, defense, healthcare, tourism, and digital transformation. Sungu expressed confidence that the coming period will see an increase in mutual investments and long-term strategic partnerships, anchored by Türkiye’s strong engineering and manufacturing base.