Turkey and Saudi Arabia plan to develop industrial partnership
Turkey and Saudi Arabia are considering expanding economic cooperation — from traditional trade and investment to long-term industrial partnerships in renewable energy, defense, tourism and logistics. Asharq Al-Awsat reports, citing representatives of Turkish institutions.
The model of cooperation envisages combining Saudi capital with Turkish technology and manufacturing expertise. The sides are considering joint investments, technology transfer and production localization in order to make bilateral economic ties less dependent on trade fluctuations.
Investment and energy
Ahmet Burak Dağlıoğlu, head of the Investment and Finance Office under the Turkish Presidency, said that the nature of Saudi investment in Turkey has changed in recent years. According to him, investors are increasingly using funds, buying stakes in Turkish companies and taking part in mergers and acquisitions. Saudi capital is also present in banking, financial services, manufacturing, real estate and family businesses.
At the same time, Turkish companies are expanding their presence in the Saudi market, using the opportunities of the Vision 2030 program and the kingdom's large-scale projects. Dağlıoğlu named manufacturing, services, healthcare, hospitals and logistics among the promising areas.
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As an example of developing investment ties, he cited Saudi ACWA Power's participation in Turkish renewable energy projects. According to him, Turkey is increasing its clean energy capacity, while Saudi companies have experience in developing, financing and operating large-scale projects. He also mentioned investment commitments for large-scale energy projects and said that further steps may be announced during Turkey's preparations for COP31 in Antalya.
Defense and tourism
Muttalip Tütüncü, secretary-general of the SAHA Istanbul defense and aerospace cluster, said that the countries' defense cooperation goes beyond product sales and export contracts. According to him, further cooperation may include technology transfer, production localization, joint manufacturing, personnel training and the creation of local supply chains.
In tourism, Dağlıoğlu proposed a model of seasonal integration: in summer, Turkey receives many tourists from Saudi Arabia, while in winter Turkish hotel operators and tourism companies could operate in the kingdom, when demand in Turkey is lower. He also stressed the importance of facilitating access to the markets of both states for investors, entrepreneurs and small and medium-sized businesses.
