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Independent: Riyadh Has Capital to Invest in Turkey

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The UK-based newspaper drew attention to Saudi Arabia’s increasing foreign exchange presence. It was noted that the Riyadh administration is preparing to invest in Turkey.

President Recep Tayyip Erdoğan held official talks in Saudi Arabia with the delegation accompanying him.

Erdogan met with King Salman bin Abdulaziz Al Saud of Saudi Arabia and Crown Prince Mohammed bin Salman here.

Economic relations between the two countries

The Independent newspaper, one of the British press, focused on President Erdogan’s visit.

In the news of the newspaper, which pointed to the economic relations between the two countries, it was noted that there was an increase in the foreign exchange reserves of Saudi Arabia.

“They have the capital to invest in Turkey”

Rising energy prices are expected to generate more than $400 million in revenue for Riyadh this year.

In the news, “In other words, Saudi Arabia has the capital to invest in Turkey.” it was said.

“Saudi Arabia is trying to expand its alliances”

On the other hand, it was stated that “Saudi Arabia’s attitude has changed due to the tensions with the USA, and the Riyadh administration is trying to expand its alliances.”

It has been reported that Crown Prince Salman has not yet had a direct meeting with US President Joe Biden since he took office.

“He took steps to improve relations with Egypt and Israel”

It was reminded that Ankara also took steps to improve its relations with Egypt and Israel.

The note was shared that Abu Dhabi announced a $10 billion fund to support investments in Turkey.

Erdem Artan

Hello, I'm Erdem, I write content for Expat Guide Turkey every day. Don't forget to check it out!

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