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Turkey and Saudi Arabia Sign Memorandum of Understanding to Strengthen Cooperation in Mining

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Turkey and Saudi Arabia Sign Memorandum of Understanding for Mining Cooperation

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Today, Turkey and Saudi Arabia have taken a significant step towards strengthening their trade and economic relations. The two countries have signed a memorandum of understanding, focusing on cooperation in the field of mining.

Turkish Minister of Energy and Natural Resources Highlights the Significance of the Agreement

During an interview with TRT Haber, Turkish Minister of Energy and Natural Resources, Alp Arslan Bayraktar, announced the signing of the agreement. He mentioned that the Saudi minister visited the ministry’s headquarters in Ankara, where they discussed mutual investment opportunities.

Cooperation on Vital Minerals for Emerging Technologies

As part of the agreement, both countries will collaborate on the production and supply of essential minerals required for industries like electric vehicles and solar panels. Minister Bayraktar specifically highlighted Saudi Arabia’s interest in clean hydrogen, wind power, and solar panels.

Boosting Energy Independence for Turkey

Minister Bayraktar emphasized the importance of recent discoveries in Turkey, such as natural gas in the Black Sea and oil in the Gabar region of Sirnak province. These findings play a significant role in reducing Turkey’s dependence on foreign countries in the energy sector.

Expanding Relations through Multiple Agreements

Apart from the mining cooperation, Turkey and Saudi Arabia have previously signed agreements in various sectors like direct investment, defense industry, energy, and communications. These agreements were made during Turkish President Recep Tayyip Erdogan’s visit to the Kingdom.

Source: SPA + Anatolia

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