<Dr. Mohammed Al Kathiri, Undersecretary of the Ministry of Commerce and Industry for Foreign Trade, praised the trade relations between the Kingdom and Turkey, stressing that they derive their roots from the political and economic relations, and even brotherhood, that unite the two countries for many years. In a press statement, Al Kathiri stressed that the Kingdom and Turkey share many common political and economic interests and are active members in many organizations related to trade and economy such as the G20, the World Trade Organization (WTO) and the Standing Committee for Economic and Commercial Cooperation (COMCEC) of the Organization of Islamic Cooperation, where Turkey chairs this committee and the Kingdom serves as vice-chair, and this committee follows up the implementation of decisions related to the fields of economy and trade, explore possible ways to enhance cooperation among member states, and prepare programs and projects that enable the development of competencies and capacities in the fields of economy and trade. On the volume of trade exchange between the two countries, Al-Kathiri said that during 2011, it amounted to 21,747 million riyals, of which 12,555 million riyals were exports from the Kingdom to Turkey and 9,192 million riyals were imports from Turkey, compared to 2006, when the volume of exchange was 10,954 million riyals, which means that it doubled in five years.The number of joint projects amounted to 159 projects, including 41 industrial projects and 118 non-industrial projects with an estimated invested capital of 586.14 million riyals, in which the share of the Saudi partner is 219.54 million riyals, the share of the Turkish partner 326.86 million riyals, and the rest for other partners, adding that to strengthen these relations and enhance cooperation between the two countries, the joint committee was formed in 1394 AH, and held ten sessions, the last one in 1432 AH in Riyadh, and the Ministry of Commerce and Industry headed the Saudi side in this committee, until the Cabinet decision was issued to transfer the leadership of the Saudi side in this committee to the Ministry of Transportation.

It is noteworthy that a Saudi-Turkish business council consisting of a number of businessmen in the two countries works jointly to support and encourage trade relations between the two countries by exploiting available opportunities and establishing joint projects. In addition, several agreements have been signed, including a trade cooperation agreement, a technical and economic cooperation agreement, and an agreement on the exchange of tax exemption on the income of profits invested from trucks and air transportation institutions of the two countries.