by: TN Media News Riyadh Saudi Arabia
Under the patronage of Saudi Minister of Commerce and Chairman of the Board of Directors of the General Authority of Foreign Trade of the Kingdom of Saudi Arabia H.E Dr. Majid Alkassabi and his Turkish counterpart H.E Dr. Mehmet Muş, a first-of-its-kind Turkish Export Products Trade Fair (Turk Expo 2023) is set to be held at Riyadh International Convention & Exhibition Center (RICEC) from March 19 to 21 from 4 p.m. to 10 p.m.
With the participation of 150 Turkish companies, the three-day expo will focus on export products and showcase a wide range of industrial technology, beauty and cleaning products, as well as home and furniture, packaging, fashion/textile, food/agricultural products, building materials, drugs/medical products and electrical and electronics industries. To be held in RICEC the expo will cover an area of 7,000 square meters and attract more than 7,000 visitors.
Supported by the Federation of Saudi Chambers and Riyadh Chamber of Commerce, the expo offers a great opportunity to connect with other businesses and provides an access to the latest industry trends and challenges, which enable businesses keep pace with the latest technological and market developments.
It can also serve as a good tool to study competitors, evaluate suppliers of new technology products, collect and build a database of products for future comparisons and benchmarking. Moreover, the expo can provide a new insight or change the way you view your business operations, either through what you will surely see/hear or the discussions you will have with others from the same industry.
Sharing his views on the trade fair, Adil Pelister, Coordinator Chairman of Istanbul Mineral and Metals Exporters’ Association (IMMIB), said “In order to improve the relations between Türkiye and Saudi Arabia, many steps have been taken by both countries and positive developments have been achieved day by day in the light of the initiatives taken. In this context, we are organizing a very important fair and also bilateral business meetings with the aim of increasing our bilateral trade relations… In 2019, Türkiye ranked as the 11th largest supplier with a share of 2.2 per cent of Saudi Arabia’s total imports. We are aware that the potential of the two countries is much higher and we hope to enhance this initiative for increased commercial relations on a mutual basis. As high level political connections strengthen, we are witnessing progress in trade and economic relations. Our trade volume with Saudi Arabia was $6.55 billion in 2022. In February, we experienced a great disaster as a result of the earthquake. We would like to thank the friendly state and people of Saudi Arabia for standing with us in these difficult days. We kindly invite Saudi Arabian companies to participate in this fair, where Turkish products, which have an important share in the world market with their quality and competitive prices, will be exhibited for establishing new business collaborations.”
It is worth mentioning that the Saudi-Turkish trade has a significant growth potential, especially with the improvement of economic and commercial relations seen in the last couple of years. Added to this is the central importance and the positive impact that both countries have on the global economy, as well as on the regional and global welfare.
Roni El Haddad, Chief Executive Officer of Cosmos Events, organizer of the Turk Expo 2023, has called on all professionals in Saudi Arabia to register themselves as visitors by accessing the event website www.turkexpo.com.tr and to register at cosmos connect www.turkexpo.co if they plan to meet with exhibitors.
The warm mutual relations enable a new phase of positive cooperation – the meeting and the joint statement issued by the President of the Republic of Türkiye Recep Tayyip Erdoğan and the Crown Prince of Saudi Arabia and Deputy Prime Minister Prince Mohammed bin Salman bin Abdulaziz Al Saud on June 22, 2022, in Türkiye, are very important for the relations between the two countries. During this visit, the “Turkish Export Products Trade Fair” idea was born and both sides underscored its importance for further cooperation.
Over the last 25 years, the Turkish exports to Saudi Arabia have increased at an annual rate of 6.04 percent, from $605 million in 1995 to $2.62 billion in 2020. On the other hand, the Saudi exports to Türkiye have increased at an annual rate of 1.48 percent, from $1.26 billion in 1995 to $1.81 billion in 2020.