Hosted by the Ministry of Treasury and Finance and organized by the Foreign Economic Relations Board (DEIK), the Turkish-Saudi Business and Investment Forum convened in Istanbul on December 22.
With the attendance of the Turkish Minister of Treasury and Finance Nureddin Nebati, Saudi Minister of Investment Khalid bin Abdulaziz AlFalih, Investment Office President A. Burak Dağlıoğlu and DEIK President Nail Olpak, the forum brought government officials and top names from the two countries' business communities together with more than 250 Saudi and Turkish companies.
Minister Nebati stated in his opening remarks that the financial sector is one of the most crucial areas for the development of bilateral relations between Türkiye and Saudi Arabia, inviting Saudi investors from all over the world to invest in Turkish financial markets and take advantage of the opportunities it has to offer.
“Our trade volume increased from USD 3.7 billion in 2021 to USD 4.3 billion between January and October 2022. We need to act faster to increase this figure to USD 10 billion between the two countries whose economic structures complement one another. We need to reach USD 30 billion by 2030," Minister Nebati added.
Speaking at the opening ceremony, Minister Al-Falih said that the forum provides strong economic opportunities between Saudi Arabia and Türkiye, leverages the two countries' enormous investment potential and offers an opportunity to explore the potential for qualitative investment cooperation in areas of mutual interest.
Minister Al-Falih also pointed out that Saudi Arabia offers new business opportunities for Turkish entrepreneurs in the construction, agrofood, energy, technology, life sciences, innovation, tourism, aerospace, and defense industries.
“Within the framework of the 2030 vision, we offer an investment potential of USD 3.3 trillion. With the trust relationship between the business communities of the two countries, we can develop cooperation much faster," Minister Al-Falih added.