Under the leadership of H.E. Recep Tayyip Erdoğan, Business Forums organized by the Foreign Economic Relations Board of Türkiye (DEİK) were held on 3–4 February 2026 as part of the official visits to Saudi Arabia and Egypt. The first stop of the visits was Saudi Arabia.
The Saudi Arabia–Türkiye Investment Forum, organized by DEİK in cooperation with the Ministry of Investment of Saudi Arabia (MISA), was held on 3 February 2026 in Riyadh, the capital of Saudi Arabia. The Forum was attended by Saudi Minister of Investment Khalid Al-Falih, Minister of Trade of the Republic of Türkiye Prof. Dr. Ömer Bolat, DEİK President Nail Olpak, Deputy Minister of Trade of the Republic of Türkiye Mustafa Tuzcu, DEİK/Türkiye–Saudi Arabia Business Council Chairman Haşim Süngü, Saudi Arabia–Türkiye Business Council Chairman Sami Mohammed Al-Osaimi, and more than 800 business representatives from both countries.
Minister of Trade of the Republic of Türkiye Prof. Dr. Ömer Bolat stated: "The decision to elevate economic, political, defence industry, and energy relations between the two countries to a strategic level is the result of the visionary perspectives and ideas of our esteemed leaders." Emphasizing that Saudi Arabia holds great importance for Türkiye in both energy and contracting sectors, Bolat said: "Turkish contractors have completed 434 projects in Saudi Arabia, amounting to a total value of USD 32.5 billion. In the new period, Saudi Arabia's Vision 2030 development projects, the fact that Expo 2030 will be held in Riyadh, and Saudi Arabia's hosting of the 2034 FIFA World Cup demonstrate that major projects in the contracting and construction sectors will be carried out through strong joint cooperation."
Bolat: "We aim to increase our trade volume to USD 10 billion in the short term and to USD 30 billion in the long term"
Noting that the trade volume between Türkiye and Saudi Arabia has exceeded USD 8.6 billion, Bolat stated: "Our leaders' targets to raise bilateral trade volume to USD 10 billion in the short term and USD 30 billion in the long term remain firm. As ministries and business representatives of both countries, we will work wholeheartedly to achieve these goals. I hope that 2026 will be the year we reach the USD 10 billion target. There are significant Saudi investments in renewable energy in Türkiye, as well as in other sectors. These investments, currently valued at USD 2 billion, are expected to increase by several billion dollars with new projects under discussion. Additionally, Türkiye has made USD 117 million in international investments in Saudi Arabia. In all these efforts, we aim to increase trade and energy cooperation, expand and improve transportation corridors, and boost mutual foreign direct investments. Cooperation in the defense industry between Türkiye and Saudi Arabia is also accelerating in both procurement and joint production."
Al-Falih: "We want to increase our investments in different parts of the world by combining our strengths"
Saudi Minister of Investment Kahalid Al-Falih stated: "We expect this visit to further strengthen cooperation between Saudi Arabia and Türkiye. This new phase will build upon our very important strategic relationship and elevate it to higher levels. These high-level engagements clearly reflect the depth of political alignment between the two countries, and our leaderships shared determination to take relations to a new strategic level. The presence of a business delegation comprising more than 200 companies during this visit demonstrates that economic cooperation and the private sector are at the heart of this partnership. We are very pleased to welcome Turkish companies among us."
Al-Falih emphasized that this Investment Forum was not an ordinary event, describing it as "an unprecedented forum" that signifies a clear transition from rhetoric to implementation based on mutual trust. He noted that Saudi Arabia's investments in Türkiye have exceeded USD 2 billion, particularly focusing on construction and real estate.
Highlighting the rapid increase in the number of Turkish companies operating in Saudi Arabia, Al-Falih added: "This demonstrates how much bilateral cooperation and trade relations have grown and the significant potential they hold. We are very pleased to see the Turkish private sector here. You have contributed greatly to Saudi Arabia and to the world. Today, we want to achieve tangible progress. We aim to further expand our partnership over the next three years, especially in mutual investments. By combining our investments, we also want to increase our global footprint. The potential of the private sectors of Türkiye and Saudi Arabia goes far beyond what we envision. When we look at the opportunities in both countries, we see tremendous potential. I encourage all participants to benefit from the investment opportunities in our country."
Olpak: "The most important strategy is to collaborate more with reliable partners"
DEİK President Nail Olpak stated that more than 350 Turkish companies operate in Saudi Arabia and emphasized the significant role of finance and banking in advancing relations. "Ziraat Bank has a branch in Jeddah, and we are pleased with that. Our friends have asked whether a branch could also be opened in Riyadh, and we will convey this request to the relevant authorities," he said.
Noting the increasing uncertainty and unpredictability in the global economy, Olpak stated: "In such a period, the most important strategy is to collaborate more with reliable partners. In this regard, Türkiye and Saudi Arabia are two countries bound by friendship and trust. We must advance both our trade and investments within this framework." He underlined that Türkiye is the largest investment, production, and technology hub between Western Europe and China, with significant investments in energy, industry, agriculture, and infrastructure, and highlighted the country's recent advancements in the defence industry ecosystem. Olpak concluded by inviting Saudi business representatives to benefit more from the investment opportunities in Türkiye.
Süngü: "Turkish companies have undertaken projects exceeding USD 25 billion"
DEİK/Türkiye–Saudi Arabia Business Council Chairman Haşim Süngü stated that there is a strong relationship between Türkiye and Saudi Arabia. Both countries are members of the G20 and among the largest economies in the region. More than 5,600 Turkish companies operate in the Saudi market, compared to approximately 3,500 just a few years ago. This rapid increase is the result of mutual trust and a clear vision.
In terms of investment and implementation, Turkish companies have undertaken projects exceeding USD 25 billion, particularly in infrastructure, construction, and mega projects. "We are part of the strategic projects under Saudi Arabia's Vision 2030. This is not new for us; it is built upon a strong and proud track record," he said.
As the DEİK/Türkiye–Saudi Arabia Business Council, they organized more than 20 events in 2024–2025, 13 of which were attended by ministers and senior public officials. By bringing together thousands of businesspeople, they have taken concrete steps to increase mutual investments, facilitate trade, and develop new partnership models. Emphasizing Turkish companies' global expertise in implementation and operation, particularly in delivering large-scale projects with speed and strong project management, Süngü stated that this expertise aligns naturally with the major projects carried out under Vision 2030.
During the event, a cooperation agreement was signed between the Turkish Contractors Association (TMB) and the Saudi Contractors Authority, the official public authority responsible for regulating, developing, and representing the construction and contracting sector in Saudi Arabia.
The Forum sponsor was Bank of Bahrain and Kuwait (BBK).
