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.

The UAE and Vietnam discuss boosting trade ties ahead of CEPA: UAE Foreign Trade Minister Thani bin Ahmed Al Zeyoudi and Vietnamese Prime Minister Pham Minh Chinh discussed boosting private-sector partnership to increase trade and investment flows in Dubai, Emirati news agency Wam reports. Several Emirati companies, including AD Ports, DP World, and Mubadala, were present at the meeting alongside high-level business and public sector officials from Vietnam.

REMEMBER- The two countries are finalizing terms of their comprehensive economic partnership agreement (CEPA), which seeks to expand economic cooperation between the two countries.

ICYMI: AD Ports and the Vietnamese Transport Ministry inked an MoU earlier this week to boost commercial expansion in various logistics-related sectors.

ALSO WORTH KNOWING-

  • Saudi Transport and Logistics Service Minister Saleh Al Jasser inked an air services agreement aimed at establishing a regulatory framework to streamline air transport with Sierra Leone’s Transport and Aviation Minister Fanday Turay at the International Conference on Air Services Negations in Riyadh, KSA. (SPA)
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