Foreign Minister Abdullah Gul announced Thursday in Istanbul that Türkiye and Saudi Arabia had signed several agreements during King Abdullah bin Abdul Aziz al-Saud's state visit to the country.
The accords cover both political and economic ground. On the political side, the two nations committed to holding regular consultations. Economically, they concluded agreements on mutual investment promotion and double-taxation relief.
Gul said Saudi business interests have focused on Türkiye's privatization program as well as sectors including agriculture, electricity, and energy, calling Türkiye "a very attractive country for foreign investors." He noted that Gulf capital, particularly from Saudi Arabia, has been a notable part of that inbound investment.
The minister also addressed Türkiye's commercial footprint in the region, observing that Turkish companies operating in Middle Eastern markets, including Saudi Arabia, have concentrated heavily on construction. He urged them to broaden their focus to include industry and services, describing those fields as offering significant untapped opportunities.
Historical summary. TurkishPress restated this wire report, first published in August 2006, in its own words.