Recep Tayyip Erdogan, the president of Turkey, has arrived in Saudi Arabia to start a three-state Gulf visit in an effort to boost foreign investment in the struggling domestic economy.
Prior to traveling to the United Arab Emirates and Qatar later this week, Erdogan arrived in the Red Sea city of Jeddah on Monday to meet with King Salman bin Abdul Aziz Al Saud and Crown Prince Mohammed bin Salman, who serves as the nation’s de facto ruler.
President Recep Tayyip Erdoğan has arrived in the city of Jeddah, Saudi Arabia, first stop of his trip to the Gulf. pic.twitter.com/95RBYTEpJD
— Republic of Türkiye Directorate of Communications (@Communications) July 17, 2023
State-run Al Ekhbariya TV in Saudi Arabia aired video of the Turkish president attending a Saudi-Turkish business roundtable.
For his visits to the UAE and Qatar, comparable business forums are scheduled.
Before leaving Istanbul, Erdogan declared, “During our visits, our key objective will be cooperative investment and commercial activity with these countries in the next period.
In the last 20 years, he claimed, two-way trade with Gulf nations has risen dramatically, from $1.6 billion to roughly $22 billion.
We will search for ways to increase this number significantly with the business forums that will be organized, according to Erdogan.
By aggressively pursuing the matter at the time, starting an inquiry, and informing the international media of the grisly specifics of the death, Turkey infuriated Saudi Arabia.
However, with relations improving, Prince Mohammed visited Turkey in June of last year, and Erdogan visited Saudi Arabia in April 2022.
Saudi Arabia made a $5 billion deposit into Turkey’s central bank in March.
Erdogan’s most recent trip to Saudi Arabia occurs as Turkey struggles with a currency crisis and skyrocketing inflation that have severely harmed its economy.
Erdogan’s visit to the Gulf comes after his victory in a new five-year term in May.
According to Sinem Cengiz, a researcher at Qatar University, “Erdogan’s visit to the Gulf after the crucial elections held in Turkey itself reflects the importance of the Gulf states in the Turkish foreign policy agenda.”
The expert on Gulf-Turkish ties stated, “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.”
A sign of strong relationships
The envoy of Qatar to Turkey indicated that Erdogan’s visit to Doha would “boost cooperation”
Before the trip, Sheikh Mohammed bin Nasser bin Jassim Al-Thani told Turkey’s Anadolu Agency that “this visit is an important indicator of the solid relations that bind Turkey and Qatar.”
Bin Nasser stated that increasing investment between the two nations would be on Erdogan’s agenda during his visit to Doha.