RIYADH: Turkey’s President Recep Tayyip Erdogan arrives in the Kingdom today to hold two days of meetings with Custodian of the Two Holy Mosques King Salman and top Saudi officials, expected to focus on boosting military, economic and political ties, including discussions on events in Syria and other Mideast nations.
King Salman had invited Erdogan to visit Riyadh during November’s G-20 summit in Antalya where ties between the two nations were further strengthened.
Erdogan has the backing of the country’s people because his Justice and Development Party had earlier secured another victory in local elections.
The discussions are expected to focus on developments around the Syrian crisis, the situation in Iraq and Yemen, and Turkey’s participation in the Saudi-led 34-nation Islamic alliance to fight terrorism.
According to a report in a local publication, Arda Ermut, chief of the Investment Support and Promotion Agency of Turkey, said that Erdogan’s visit would boost mutual investments, which would have a positive impact on the entire region.
Ermut said that there are 800 Turkish-Saudi joint venture companies working on Turkish soil in many fields.
“These companies are part of 45,000 Turkish foreign joint ventures. Definitely, the huge influx of tourists all year round to our country from all over the world, estimated currently at over 40 million, was a major stimulus for this Saudi and foreign influx of investments,” he said.
In the last 10 years, two-way trade between the Kingdom and Turkey has risen from SR4 billion to SR22 billion and is poised to rise further in the coming few years, with further cooperation in defense and security.
In July 2015, the Turkish Military Electronic Industries, a company of the Turkish Armed Forces Foundation, signed a memorandum of understanding with King Abdulaziz City for Science and Technology and TAQNIA Defense and Security Technologies, a subsidiary of the Saudi Development and Investment Company.
The Kingdom and Turkey have similar views on Syria, Iraq and Yemen are opposed to Iran’s expanding intervention in the region.
Turkey has supported the Saudi-led campaign to root out Tehran’s involvement in Yemen, and its support of the Houthi rebels.
King Salman had invited Erdogan to visit Riyadh during November’s G-20 summit in Antalya where ties between the two nations were further strengthened.
Erdogan has the backing of the country’s people because his Justice and Development Party had earlier secured another victory in local elections.
The discussions are expected to focus on developments around the Syrian crisis, the situation in Iraq and Yemen, and Turkey’s participation in the Saudi-led 34-nation Islamic alliance to fight terrorism.
According to a report in a local publication, Arda Ermut, chief of the Investment Support and Promotion Agency of Turkey, said that Erdogan’s visit would boost mutual investments, which would have a positive impact on the entire region.
Ermut said that there are 800 Turkish-Saudi joint venture companies working on Turkish soil in many fields.
“These companies are part of 45,000 Turkish foreign joint ventures. Definitely, the huge influx of tourists all year round to our country from all over the world, estimated currently at over 40 million, was a major stimulus for this Saudi and foreign influx of investments,” he said.
In the last 10 years, two-way trade between the Kingdom and Turkey has risen from SR4 billion to SR22 billion and is poised to rise further in the coming few years, with further cooperation in defense and security.
In July 2015, the Turkish Military Electronic Industries, a company of the Turkish Armed Forces Foundation, signed a memorandum of understanding with King Abdulaziz City for Science and Technology and TAQNIA Defense and Security Technologies, a subsidiary of the Saudi Development and Investment Company.
The Kingdom and Turkey have similar views on Syria, Iraq and Yemen are opposed to Iran’s expanding intervention in the region.
Turkey has supported the Saudi-led campaign to root out Tehran’s involvement in Yemen, and its support of the Houthi rebels.
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