After Saudi-Turkish relations witnessed noticeable tension at the political level, Turkey targeted the person of Saudi Crown Prince Mohammed bin Salman by accusing him of taking responsibility in the case of the murder of journalist Jamal Khashoggi in addition to human rights issues, he met it at the economic level with a boycott by the Saudi people of Turkish goods.

Edited by | HUGH GEY

ECONOMIC SECTION

3. MAY,2023

However, we are witnessing a change in Saudi attitudes in the recent period, after the visit of the Saudi crown prince to Turkey, as the Foreign Economic Relations Committee of the Turkish Ministry of Treasury and Finance organized the Turkish-Saudi business and investment forum with the participation of about 100 Saudi companies

The Saudi minister of investment, Khalid bin Abdulaziz Al-Falih, revealed that his country is seeking to achieve direct investments worth 3.3 trillion dollars, within the framework of Vision 2030

During the forum, the minister said that his country would like to distribute these investments to all fields, especially the manufacturing sector

Al-Falih explained that Saudi Arabia seeks to invest in the fields of manufacturing, defense industries, biotechnology, tourism, sustainability, green economy, metallurgy, mining industry, aluminum and titanium, logistics, housing, energy, and capital

Falih also called on Turkish companies to invest in his country, saying: "We aim to direct these investments to all fields and invite everyone to invest in these fields, I want to emphasize several areas to strengthen our partnership, the first is the field of manufacturing industries, the field of manufacturing industries in Turkey is strong, it is geographically close and close to pivotal markets such as Europe, we can strengthen our economic cooperation in cooperation in the fields of energy, technology and capital, and food, mineral industries, and mining also stand out in front of us as investment areas".

Al-Falih said that Saudi Arabia aims to achieve investments worth 3.3 trillion dollars by 2030.

He added: "This represents more than half of the Gulf, we see new projects on the horizon and the kingdom is working to meet the housing needs of a young and vital people, Saudi Arabia offers friends from Turkey unique opportunities in the construction sector.

Minister of Treasury and Finance Noureddine Nabati, in his speech at the Turkish-Saudi Business and Investment Forum in Istanbul, announced that the trade volume, which was 3.7 billion dollars in 2021, increased to 4.3 billion dollars in the period from January to October of 2022

Nabati pointed out that the volume of foreign trade between Turkey and Saudi Arabia should target 30 billion dollars, and said: "I invite investors in Saudi Arabia to take advantage of the opportunities available in our markets."

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