The Kingdom of Saudi Arabia informed Turkey on Wednesday that it has lifted all restrictions on exports of goods, raising hopes of resumption of exports which significantly reduced trade value between the two countries.
The ban, which was in place for four years, caused a decline to Turkish exports of $2.7 billion in 2018 to $189 million in 2021, according to Middle East Monitor.
“Saudi Arabia is a good market for us,” said Kazem Taiji, a member of a Turkish commercial group, while lamenting the full closure of Saud’s Al Jazeera Gate in 2020 to all Turkish goods.
Meanwhile, the restriction was removed ahead of Turkish President Recep Tayyip Erdogan’s planned visit to Saudi Arabia next month.
Erdogan recently announced he will visit the Kingdom to discuss the issue of Turkish exports with Saudi officials.
At the same time, Saudi exports to Turkey reached $3 billion during the first 11 months of 2021, despite the Saudi ban on Turkish goods.
Turkey has also lifted a ban on Saudi and Emirati mass media, including Al-Arabiya TV, and Okaz newspaper.
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