The boycott of Turkish goods was expected to end completely after President Erdogan’s visit to Saudi Arabia last month, but exports to this country were almost zero in May.
After President Recep Tayyip Erdoğan’s visit to Saudi Arabia last month, foreign trade figures were announced.
One of the purposes of the visit, which took place after a gap of about 5 years, was to completely abolish the boycott that Saudi Arabia has implemented against Turkish goods since October 1, 2020, but which has been softened in recent months.
However, the export figures for May were not as desired.
CLOSE TO ZERO
According to the figures announced by the Turkish Exporters’ Assembly (TIM), Turkey’s exports to Saudi Arabia approached zero in May, reaching the bottom of the boycott period.
In May, Turkey’s exports to this country amounted to 3 million dollars with a decrease of 57.8 percent compared to the same month of the previous year and 91.9 percent compared to the previous month.
In the January-May period, Turkey’s exports to Saudi Arabia increased by 49.1 percent compared to the same period of the previous year and reached 110.5 million dollars.
Turkey’s imports from this country reached 1.5 billion dollars in the January-April period, and there was a huge deficit in foreign trade between the two countries.
Turkey’s annual exports to Saudi Arabia, which rose to 3.3 billion dollars in 2019, decreased to 265 million dollars in 2021 with the effect of the boycott.
NEBATI AND MUS WERE GONE
Erdogan visited Saudi Arabia on April 28, 2022 and met with King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman in the city of Jeddah.
Minister of Justice Bekir Bozdag, Minister of Treasury and Finance Nureddin Nebati, Minister of Interior Süleyman Soylu, Minister of Culture and Tourism Mehmet Nuri Ersoy, Minister of National Defense Hulusi Akar, Minister of Health Fahrettin Koca and Minister of Trade Mehmet Muş were also present in the delegation, which went to Jeddah with Erdoğan. had received.
The visit took place after the murder case opened in Istanbul regarding the murder of Washington Post columnist Saudi journalist Jamal Khashoggi in the Saudi Arabian Consulate in Istanbul 3.5 years ago was transferred to Riyadh.
NEEDS FOREIGN EXCHANGE
Turkey and Saudi Arabia, which acted together in the first years of the war against Syria, then fell apart in the Egypt, Libya and Qatar crises, and the Saudis demanded Ankara to cut its support to the Muslim Brotherhood.
Experts pointed out that economic reasons came to the fore in Ankara’s latest Gulf expansion, which needed foreign exchange before the election.
Source From: Sozcu