Exports to Saudi Arabia are increasing: 300 percent rise in 9 months

Ahmet Güleç, Acting President of the Turkish Exporters Assembly (TİM), announced that exports to Saudi Arabia in the first 9 months of this year have exceeded $1.8 billion, representing an increase of approximately 300% compared to the same period last year. He also noted a significant increase in the number of companies exporting to Saudi Arabia.

According to a statement from the Turkish Exporters Assembly (TİM), the “Saudi Arabia General Procurement Delegation” program, organized in cooperation with the Ministry of Trade, TİM, and the Independent Industrialists and Businessmen’s Association (MÜSİAD), was held in Istanbul.

Güleç, speaking at the event, emphasized that Turkey and Saudi Arabia are two significant actors in their respective geographies. He stated that they were working to maximize their trade relations within the framework of a “win-win” principle.

TIES BETWEEN TURKEY AND SAUDI ARABIA STRENGTHENING

Despite occasional challenges, Güleç highlighted that the ties between the two countries had been strengthening over time. He said, “In parallel with the development of political relations between our countries, we have witnessed a significant upward trend in our exports. In the first 9 months of this year, our exports to Saudi Arabia have exceeded $1.8 billion, representing an increase of approximately 300% compared to the same period last year. There has also been a substantial increase in the number of companies exporting to Saudi Arabia. While 3,560 of our companies exported to Saudi Arabia in the entire year of 2022, this number has exceeded 5,600 in the first 9 months of this year. I know that there is a great potential to further expand the trade volume, which is currently at the $6 billion level, between our countries. As we have seen once again in today’s meeting, both sides have a strong determination to realize this potential.”