Erdogan claims that there is huge economic potential between Turkey and Saudi Arabia.

Erdogan stated that the parties were determined to further up their efforts for the region's stability and shared interests.

 Following his first visit to the kingdom since 2017, Turkish President Tayyip Erdogan said on Saturday that Turkey and Saudi Arabia share a desire to "reactivate a big economic potential" between the two nations. 

Erdogan said the parties were resolved to step up efforts for the shared interests and stability of the region while speaking to reporters on a trip home from Saudi Arabia, where he attempted to heal strained relations.

A potential currency exchange line or any other particular planned initiatives that would ease Turkey's economic pressures were not mentioned in the media readout. 

Erdogan stated, "We agreed with Saudi Arabia to revive a significant economic potential through organisations that will unite our investors.

Erdogan met with Saudi King Salman bin Abdulaziz Al Saud and Crown Prince Mohammed bin Salman during his two-day visit, and they spoke about a range of global, regional, and bilateral matters. 

He continued, "We declared that Turkey would back them in their effort to hold EXPO 2030 in Riyadh.

 Erdogan's visit represents the culmination of a months-long effort to improve relations, which included dismissing the case against the Saudi journalist Jamal Khashoggi, who was killed in Istanbul in 2018. 

According to Erdogan's staff, the Saudi king had invited him.

Ahead of contentious presidential elections next year, analysts and officials say Saudi assistance might help Turkey resolve its economic problems, notably skyrocketing inflation. They claimed a swap line may help replenish Turkey's dwindling stockpiles.

CHARM OFFENSIVE

After Khashoggi was murdered and mutilated by a Saudi hit squad in the country's consulate in Istanbul in 2018, relations deteriorated. Erdogan first claimed that the Saudi government's "highest levels" were responsible for issuing the orders, but Ankara has subsequently changed its stance. 

"I am confident that my visit will start a new era in relations between our two nations. We have shown that we both want to strengthen our relationships "said he.

Erdogan reaffirmed "the need for a new era in foreign policy" and explained that this involved building relationships with nations with which "we share the same views and thinking" rather than fighting them. 

The top diplomat of Turkey is scheduled to travel to Israel in May as part of efforts to improve long-strained ties between the two countries.

According to Erdogan, the current low-level dialogue can be escalated and a similar tactic may be pursued against Egypt. 

"We already have relationships amongst our intelligence services, for example, at a modest level. Our businesspeople continue to interact with one another. Positive outcomes suggest that these actions can be adopted at a more advanced level, "About Egypt, Erdogan stated.