Riyadh: Trkiye is working with an aim to ‘jointly grow global prosperity based on green transformation, digitalization, investment-friendly policies, and global cooperation,’ the Turkish vice president said at a forum in Saudi Arabia.

According to Anadolu Agency, the 9th Future Investment Initiative Forum, held in Riyadh, opened its doors to visitors with the theme: ‘The Key to Prosperity: Unlocking New Frontiers of Growth.’ Turkish Vice President Cevdet Yilmaz, after speaking at the opening, participated in a roundtable discussion on ‘the true cost of economic security,’ which was moderated by former Italian Prime Minister Matteo Renzi.

The meeting focused on the future of global trade, the impact of geopolitical developments on investment, new opportunities led by digital and green transformation, and developing a fair, sustainable, and inclusive approach to growth. Yilmaz emphasized Trkiye’s vision of an open and resilient economy, strengthened by strategic diversification. He highlighted Trkiye’s strategic geographic location, strong production infrastructure, and innovative startup ecosystem as vital components of its role as a reliable logistics hub between Europe, Asia, and the Middle East.

Turkish Finance Minister Mehmet Simsek, also speaking at the forum, underscored globalization as a significant driver of global growth. He noted that since 1990, global trade volume has increased nearly sixfold, lifting one billion people out of poverty. Simsek stated that Trkiye remains open to the outside world and values regional and global integration, which yields benefits for the nation.

Simsek also addressed tariffs and protectionism, stating that tariffs serve as a form of protectionism that does not benefit economies in the long run. He advocated for free trade agreements as a shield against protectionism and mentioned that Trkiye is close to finalizing an agreement with the UK and is working on updating the Customs Union with the EU.