Turkish President to visit Saudi Arabia with business delegation

A large delegation of Turkish business leaders will accompany Turkish President Recep Tayyip Erdoğan on his visit to Saudi Arabia, where the focus will be on potential announcements signaling further advancements in economic cooperation.

The two-day visit is Erdoğan's first trip abroad of the year, which comes amid soaring tensions in the region, and is part of a tour that also includes a stop in Egypt.

Erdoğan is scheduled to arrive in Riyadh on Tuesday and be received by Crown Prince Mohammed bin Salman at Al Yamamah Palace.

"Erdoğan’s visit to Saudi Arabia represents the will of the two countries to elevate their relations, especially in economy and investments, as well as further advancing private sector cooperation,” said Haşim Süngü, chair of the Türkiye-Saudi Arabia Business Council at the Foreign Economic Relations Board (DEIK).

Erdoğan is expected to attend business forums in both Riyadh and Cairo. Eyes will be on the signings of new strategic cooperation agreements, potentially in energy and defense.

Ankara and Riyadh are seeking to push bilateral trade from roughly $8 billion toward a long-term target of $30 billion.

"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," Süngü said.

According to him, energy, infrastructure, construction, industry, defense, health care, tourism and digital transformation are some of the particular areas for cooperation and strong investment opportunities.