Saudi Arabia is currently Turkey’s one of the largest trading partners among the Middle East and Gulf countries.
In order to complete the legal framework of bilateral commercial and economic relations, Turkey and Saudi Arabia have signed a number of agreements, including Trade Agreement(1974), Agreement on Enhancing Economic and Technical Cooperation(1974), Bilateral Investment Promotion and Protection Agreement(2006) and Double Taxation Prevention Treatment(2007).
Within the framework of Agreement on Enhancing Economic and Technical Cooperation, in order to evaluate and enhance bilateral economic and trade relations, Turkey-Saudi Arabia Joint Economic Committee meetings are held with the participation of the Ministers and government institutions and in case of need, private enterprises from both Turkey and Saudi Arabia alternately in Ankara and Riyadh.