(MENAFN) On Sunday, Istanbul served as the backdrop for an important joint forum aimed at strengthening business collaboration between Turkish and Saudi businesses. Organized by the Council for Foreign Economic Relations of Turkey (DEIK), the Turkey-Saudi Arabia Business Forum brought together key business leaders from both countries to explore partnership and investment opportunities. This event highlighted the mutual interest in strengthening economic ties and fostering greater cooperation between various sectors.

During the forum, Saudi Minister of Commerce Majid bin Abdullah Al-Qasabi highlighted the essential role that Turkish products play in the Saudi market. He expressed admiration for Turkey’s achievements, particularly in the services sector, highlighting the lessons that can be learned from its successes. Al-Qasabi also called for the creation of joint ventures in sectors such as mining, health and tourism, encouraging Turkish companies to actively participate in Saudi Arabia’s ambitious Vision 2030 transformation plan.

Turkish Commerce Minister Omer Bolat provided an overview of the strong trade relations between Turkey and Saudi Arabia, announcing that the mutual trade volume is expected to exceed $8 billion by the end of this year . He highlighted the goal of surpassing the $10 billion mark by 2025, attributing this positive trajectory to the dedication of the leaders of both countries. Bolat noted that economic and defense ties between Turkey and Saudi Arabia are developing rapidly and have reached a commendable level of cooperation.

DEIK President Nail Olpak echoed the optimism surrounding trade relations, revealing that trade volume had already reached $6.4 billion in September. He expressed confidence that this figure could exceed $10 billion, calling for increased investment in joint projects, particularly those involving collaboration with third countries, with a particular focus on opportunities in Africa. This sentiment reflects a shared vision for the future, marked by deepening ties and a commitment to mutual growth.