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BackMinister of Commerce Bolat announced the goal of increasing trade volume with Saudi Arabia
Minister of Commerce Bolat announced the goal of increasing trade volume with Saudi Arabia
Developing
AA Güncel1 hour agoBusiness1 min readTürkiyeView original

Minister of Commerce Bolat announced the goal of increasing trade volume with Saudi Arabia

Quick Look

Trade Minister Bolat stated that he had a bilateral meeting with Saudi Arabian Trade Minister Majid al-Kasabi within the scope of the G20 Trade Ministers Meeting held in Milwaukee and that the trade volume between the two countries will be 8.6 billion dollars in 2025 and 6 billion dollars in the first 8 months of 2026, and that efforts are continuing to increase it to 10 billion dollars in the short term and 30 billion dollars in the long term.

AI-generated summary

Why It Matters

Trade relations between Türkiye and Saudi Arabia came to the agenda with the bilateral meeting held in Milwaukee as part of the G20 Trade Ministers Meeting.

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In his post on his NSosyal account, Bolat stated that he had a productive bilateral meeting with Saudi Arabian Minister of Commerce Macid al-Kasabi in Milwaukee, where he was present for the G20 Trade Ministers Meeting.

Minister Bolat said, "During our meeting, we discussed cooperation opportunities to further increase trade between our countries and discussed the common goals we set in this direction." he said.

Stating that they expressed their satisfaction with the progress made in the Free Trade Agreement negotiations with the Gulf Cooperation Council, Bolat noted that they evaluated the steps that can be taken to deepen relations in bilateral and regional trade, contracting services, cooperation in the field of halal and transit trade.

Bolat said, "Under the leadership of our President, Mr. Recep Tayyip Erdoğan, with the aim of making the Century of Turkey the Century of Trade, we will continue to work to increase our trade volume with Saudi Arabia, which is 8.6 billion dollars in 2025 and 6 billion dollars in the first 8 months of 2026, to 10 billion dollars in the short term and 30 billion dollars in the long term." made his assessment.

What to Watch

AI outlook — possibilities, not facts

  • Trade volume between Türkiye and Saudi Arabia will reach 8.6 billion dollars in 2025

    Likely · Within months

  • Trade volume between Türkiye and Saudi Arabia will increase to 30 billion dollars in the long term

    Possible · Within years

Open Questions

  • What are the mechanisms for achieving trade volume targets?
  • What is the status of free trade agreement negotiations with Saudi Arabia?
  • In which sectors will this trade increase be more evident?

Related Topics

This article was originally published by AA Güncel.

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