Turkish Prime Minister Recep Tayyip Erdoğan traveled to Jeddah in February 2007 to address the Turkish-Saudi Business Council, urging Saudi investors to direct capital toward Türkiye.
Erdoğan credited his government's reform agenda with making Türkiye more appealing to international investors, pointing to a 30 percent growth rate over four years, successful privatizations, and inflation dropping to single digits. He noted that foreign capital inflows had reached roughly 20 billion USD by the close of 2006.
On trade, Erdoğan said bilateral commerce with Saudi Arabia stood at around 3 billion USD in 2005 and called for pushing that figure to 7 billion USD as quickly as possible, describing both countries as leading economic forces in the region.
Rifat Hisarciklioglu, chairman of the Union of Turkish Chambers and Commodity Exchanges (TOBB), noted that 25 Türkiye-based firms appeared among the top 100 companies in the Muslim world, citing this as evidence of the dynamism of the Turkish economy. He also expressed a desire to see Turkish construction contractors win more project contracts inside Saudi Arabia.
Historical summary. TurkishPress restated this wire report, first published in February 2007, in its own words.