Turkey and Saudi Arabia have taken a significant step towards enhancing their economic partnership with the signing of a memorandum of understanding today, Monday.
This memorandum paves the way for collaboration between the two nations in the mining sector, marking a stride in fortifying their trade and economic relations.
As stated by Alparslan Bayraktar, the Turkish Minister of Energy and Natural Resources, the Saudi Minister was hosted at the Turkish Ministry’s headquarters in the capital, Ankara. During their meeting, discussions were held concerning mutual investments.
The agreement, which was inked during the encounter, encompasses cooperation regarding vital minerals needed for fields such as electric vehicles and solar panels.
Bayraktar also highlighted Saudi Arabia’s particular interest in green hydrogen, wind energy, and solar panels.
He emphasized the significance of natural gas discoveries in the Black Sea and oil findings in the Gavur Region of the Şırnak Province.
These discoveries hold great importance for Turkey, aiding in reducing external energy dependency.
Earlier instances saw Turkey and Saudi Arabia entering agreements in direct investment, defense industries, energy, communications, and defense. These deals were made during the visit of Turkish President Recep Tayyip Erdoğan to the Kingdom.
