President Recep Tayyip Erdogan arrives in Saudi Arabia on Monday for the first phase of a three-country Gulf trip aimed at soliciting foreign investment to bolster Turkey’s economy.
The Turkish president will see King Salman and Crown Prince Mohammed bin Salman in Jeddah before departing for the UAE and Qatar later this week.
Erdogan stated ahead of his travel to the Gulf, “During our visits, our primary agenda will be joint investment and commercial activities with these countries in the upcoming period.”
According to AFP, Turkey’s president stated that bilateral trade with Gulf countries has expanded from $1.6 billion to around $22 billion over the last 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.
Turkey 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 Turkey in June last year.
Erdogan’s new Saudi trip comes as Turkey 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 Turkey 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 Turkey 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 Turkey, which is trying to increase exports to help ease its economic problems,” said the expert on Gulf-Turkish relations.