Saudi-Turkish business collaboration: Exploring opportunities in agriculture, manufacturing, and technology

The Saudi-Turkish Business Forum, held in Riyadh, brought together leading business representatives from Saudi Arabia and Turkiye to explore export opportunities across 10 key economic sectors. The event was attended by a delegation from the Turkish Exporters Assembly, including 40 Turkish firms, alongside several Saudi businesses, aiming to strengthen trade ties between the two nations. This reflects the strong Saudi-Turkish business collaboration, fostering mutual growth and economic partnership.

Industries represented at the forum ranged from mining, chemicals, and food to electronics, machinery, grains, and fruits. The discussions emphasised potential collaborations in agriculture, food, and tourism, as well as advanced manufacturing, infrastructure, and logistics.

Trade between Saudi Arabia and Turkiye has seen a robust growth trajectory, with a 15.5% increase in 2023, bringing the trade volume to SR25.4 billion ($6.75 billion). Saudi exports accounted for SR15.6 billion, while Turkish imports into the Kingdom reached SR9.8 billion.

This forum follows a series of strategic agreements signed in Istanbul in November 2024, where both countries pledged to deepen ties in sectors such as health, IT, defense, and construction. Omer Bolat, Turkiye’s Minister of Trade, underscored Turkiye’s ambition to raise bilateral trade with Saudi Arabia to $30 billion in the medium term, while diversifying into emerging industries.

Turkiye, whose exports totalled $255.8 billion in 2023, has set a target of $400 billion by 2028. The country views Saudi Arabia as a pivotal partner in achieving this goal, leveraging shared interests in logistics, technology, and innovation.

Organised by the Federation of Saudi Chambers, the forum drew participation from over 450 companies and government agencies, marking it as a significant step in advancing economic partnerships under shared visions of diversification and growth.

The Saudi-Turkish Business Forum provided a valuable platform for discussing future collaboration opportunities. Both nations are focusing on fostering sustainable trade practices and enhancing cross-border investments, particularly in sectors like renewable energy, green technologies, and digital transformation. With growing interest in these areas, there is a strong emphasis on supporting innovation-driven partnerships that align with Saudi Vision 2030 and Turkey’s 2023 Vision, driving economic diversification and sustainability in both regions.

Additionally, the forum highlighted the importance of strengthening people-to-people connections, including business-to-business collaborations, academic exchanges, and cultural partnerships. This focus aims to deepen the Saudi-Turkish relationship beyond trade, fostering mutual understanding and shared prosperity through joint ventures and collaborative initiatives.