- BIST10011,430-2.49%
- USD49.45+0.05%
- EUR55.62+0.37%
- GOLD4,157.20-0.57%
- INTEREST37.00%-1.00
- BITCOIN81,929-0.10%
- October 19, 202616°
- BIST10011,430-2.49%
- USD49.45+0.05%
- EUR55.62+0.37%
- GOLD4,157.20-0.57%
- INTEREST37.00%-1.00
- BITCOIN81,929-0.10%
- October 19, 202616°
Turkey and Saudi Arabia sign Joint Action Plan to facilitate trade
A Joint Action Plan was signed between Turkey and Saudi Arabia to facilitate trade. The agreement aims to strengthen economic ties and increase trade volume between the two countries.
A Joint Action Plan was signed between Turkey and Saudi Arabia to facilitate trade. The agreement aims to strengthen economic ties and increase trade volume between the two countries.
Among the signed protocols is the 'Protocol of the 2nd Term Meeting of the Trade, Industry, Investment, Infrastructure and Energy Committee.' Additionally, memorandums of understanding were signed for cooperation in logistics services and railway sectors.
With the resolution of transit visa issues, the passage of Turkish truck drivers through Saudi Arabia to the Gulf region has been facilitated. This step will contribute to accelerating trade between the two countries.
While Saudi Arabia's 'Vision 2030' and Turkey's production and export-oriented growth strategies overlap, both countries agreed to benefit from mutual investment opportunities. Emphasis was placed on developing trade volume, intensifying mutual visits between public and private sector officials, and organizing trade events through the Turkey-Saudi Arabia Business Council.
The importance of concluding the Free Trade Agreement negotiations between Turkey and the Gulf Cooperation Council (GCC) countries was once again brought to the agenda. Trade Minister Ömer Bolat stated that a transit trade agreement was made with Saudi Arabia to revive trade disrupted by security risks in the Strait of Hormuz.
Transport and Infrastructure Minister Abdulkadir Uraloğlu stated that in the sensitive process the region is going through, the uninterrupted functioning of trade and the logistics chain is critical, and removing obstacles in the transport sector is a strategic necessity.
Stay Updated with Hilal Times
Subscribe to be informed about special news, developments and announcements. We will keep you informed.
By signing up, you agree to our Privacy Policy
