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A new era of collaboration to start between Saudi Arabia & Turkey

A new era of collaboration to start between Saudi Arabia & Turkey

Following discussions between Saudi Crown Prince Mohammed bin Salman and Turkish President Recep Tayyip Erdogan, the two nations announced in a joint statement today that they talked about enhancing cooperation and making investments in energy, defense, and other industries. 

The two nations’ bilateral ties were examined from a variety of angles during the discussions, and their shared desire to further cooperation in all areas of those relations—including the political, economic, military, security, and cultural realms—was reaffirmed in the strongest terms. 

Trade and Investment

The public and private sectors in the two countries should communicate more frequently to discuss investment opportunities and turn them into concrete partnerships in a variety of fields. The two sides also talked about how to expand and diversify bilateral trade, facilitate trade exchange between the two countries, overcome any obstacles in this regard, and develop and diversify bilateral trade. Additionally, they decided to start the Saudi-Turkish Coordination Council’s activities.

Energy

To work on localizing energy sector products and associated supply chains, as well as developing projects related to these fields, the two sides expressed their desire to cooperate in the fields of energy, including petroleum, refining, petrochemicals, energy efficiency, electricity, renewable energy, innovation, and clean technologies for hydrocarbon resources.

Environment

 The use of the circular carbon economy strategy, introduced by the Kingdom and accepted by the leaders of the Group of Twenty countries, was one way Turkey showed its support for the Kingdom’s efforts in the field of climate change.

The necessity to develop and execute the climate accord by concentrating on emissions without sources was stressed by the two parties, who also emphasized the need of upholding the principles of the Framework Convention on Climate Change and the Paris Agreement.

Artificial intelligence

The two parties decided to boost cooperation among private sector players in the sectors of artificial intelligence, digital technologies, and smart cities as well as to build fruitful investment relationships in these areas.

Defense & Politics

For the defense issue, the two parties decided to put into effect the agreements they had previously made regarding defense cooperation and to develop them in a way that both serves their respective interests and helps to achieve security and stability in the area.

The importance of cooperation in the tourism sector was emphasized by the two parties, who also emphasized the need to expand travel between their two nations, explore each nation’s tourism potential, and intensify teamwork for the benefit of the sector’s growth following bilateral agreements reached between them.

Additionally, the two sides reaffirmed their commitment to enhancing their mutual coordination within the framework of regional and international institutions, notably the UN and the OIC.

Prince Mohammed bin Salman Al Saud thanked Turkish President Tayyip Erdogan for his hospitality, as well as for the closeness and affection that pervaded the delegation’s stay with His Highness.

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