Saudi and Turkish companies inked eight agreements to expand trade and investment at a Saudi-Turkish Business Council meeting in Istanbul, Turkey, Saudi press agency SPA reports, without disclosing further details about the agreement.

Background: Trade volumes between KSA and Turkey rose 32.6% y-o-y to USD 5.8 bn in 2022, the statement said. Turkey aims to increase the volume of trade between the two countries to USD 10 bn in the medium-term and USD 30 bn in the long-term, Trade Minister Omar Bolat said in the statement.

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