Saudi Arabia to buy $6 billion worth of military equipment from Turkey

Saudi Arabia to buy $6 billion worth of military equipment from Turkey

The Turkish government is planning to sign a $6 billion defense deal with Saudi Arabia, which could see the kingdom buy warships, tanks and missiles, Bloomberg reported.

According to official information, an agreement for Saudi Arabia to join Turkey's 5th-generation Kaan fighter jet production project could be signed during President Recep Tayyip Erdogan's visit to Saudi Arabia in March.

Anil Ulas Koseoglu, an analyst at Is Investment in Istanbul, said $6 billion is a large amount, considering that the industry's total exports are around $7 billion a year.

Turkey has been rapidly developing its defense industry in recent years and sees Saudi Arabia as one of its key markets. In 2023, the Saudi kingdom signed a contract to purchase drones from the Turkish company Baykar.

Saudi-Turkish relations have improved significantly in the past two years, after a period of stagnation following the killing of journalist Jamal Khashoggi in the Saudi consulate in Istanbul in 2018.