AIRLINK 58.23 Decreased By ▼ -0.37 (-0.63%)
BOP 6.24 Increased By ▲ 0.03 (0.48%)
CNERGY 3.97 Decreased By ▼ -0.02 (-0.5%)
DFML 16.07 Increased By ▲ 0.06 (0.37%)
DGKC 67.61 Increased By ▲ 0.29 (0.43%)
FCCL 17.82 Increased By ▲ 0.27 (1.54%)
FFBL 25.40 Decreased By ▼ -0.49 (-1.89%)
FFL 9.15 Increased By ▲ 0.01 (0.11%)
GGL 9.79 Increased By ▲ 0.02 (0.2%)
HBL 113.77 Increased By ▲ 1.27 (1.13%)
HUBC 111.61 Decreased By ▼ -3.68 (-3.19%)
HUMNL 6.55 Decreased By ▼ -0.04 (-0.61%)
KEL 4.39 Increased By ▲ 0.17 (4.03%)
KOSM 4.59 Increased By ▲ 1.03 (28.93%)
MLCF 37.73 Increased By ▲ 0.62 (1.67%)
OGDC 125.21 Increased By ▲ 8.81 (7.57%)
PAEL 22.61 Decreased By ▼ -0.10 (-0.44%)
PIAA 11.10 Increased By ▲ 0.31 (2.87%)
PIBTL 6.17 Decreased By ▼ -0.08 (-1.28%)
PPL 109.07 Increased By ▲ 5.07 (4.88%)
PRL 26.84 Increased By ▲ 0.45 (1.71%)
PTC 10.48 Increased By ▲ 0.95 (9.97%)
SEARL 52.85 Increased By ▲ 0.86 (1.65%)
SNGP 66.38 Increased By ▲ 1.26 (1.93%)
SSGC 11.01 Increased By ▲ 0.08 (0.73%)
TELE 7.13 Decreased By ▼ -0.08 (-1.11%)
TPLP 11.93 Decreased By ▼ -0.06 (-0.5%)
TRG 76.07 Decreased By ▼ -0.78 (-1.01%)
UNITY 20.47 Decreased By ▼ -0.02 (-0.1%)
WTL 1.30 No Change ▼ 0.00 (0%)
BR100 6,426 Increased By 94.3 (1.49%)
BR30 21,976 Increased By 345.9 (1.6%)
KSE100 62,816 Increased By 901.5 (1.46%)
KSE30 21,134 Increased By 282.7 (1.36%)

RIYADH: Turkish President Recep Tayyip Erdogan arrives on Monday in Saudi Arabia during a three-country Gulf tour as he looks to attract foreign investment in his country’s ailing economy.

Erdogan is scheduled to land in the Red Sea city of Jeddah to meet King Salman and Crown Prince Mohammed bin Salman, the country’s de facto ruler, before going to the United Arab Emirates and Qatar later this week.

“During our visits, our primary agenda will be joint investment and commercial activities with these countries in the upcoming period,” Erdogan said before leaving Istanbul.

He said bilateral trade with Gulf countries has increased from $1.6 billion to approximately $22 billion over the past 20 years.

“With the business forums to be organised, we will look for ways to move this figure much further,” Erdogan said.

The visit is his second to Saudi Arabia since a recent rapprochement. Ties between the two countries were strained by the 2018 murder of journalist Jamal Khashoggi in the kingdom’s Istanbul consulate.

Turkiye angered Saudi Arabia by vigorously pursuing the case at the time, opening an investigation and briefing international media on the gory details of the killing.

But with ties on the mend, Erdogan visited Saudi Arabia in April 2022, and Prince Mohammed went to Turkiye in June last year.

Erdogan’s new Saudi trip comes as Turkiye battles a currency devaluation and soaring inflation that has battered its economy.

The two countries will sign several accords during Erdogan’s trip as Ankara looks to non-Western partners for financial support, a senior Saudi official told AFP on condition of anonymity because he is not authorised to speak to the press.

Erdogan’s Gulf tour will be followed by a trip to northern Cyprus which Turkiye invaded and occupied in 1974, and comes after his re-election in May for another five-year term.

“Erdogan’s visit to the Gulf after the critical elections held in Turkiye itself reflects the importance of the Gulf states in the Turkish foreign policy agenda,” Sinem Cengiz, a researcher at Qatar University, told AFP.

“Growing Gulf interest in investing in diverse sectors is a boost for Turkiye, which is trying to increase exports to help ease its economic problems,” said the expert on Gulf-Turkish relations.

Comments

Comments are closed.