Economy Saudi Arabia in talks for $6bn Turkish arms deal By Pramod Kumar January 28, 2025, 9:58 AM BMC Ankara wants to sell its main battle tank Altay to Saudi Arabia Turkey expects to strike a $6 billion agreement with Saudi Arabia for the sale of warships, tanks and missiles. The deal may include Saudi Arabia joining Turkey’s fighter jet development project, which could be signed during the visit of President Tayyip Erdoğan to the kingdom in March, Bloomberg reported, citing unnamed officials. Ankara aims to strengthen its defence industry and views Saudi Arabia as one of the world’s biggest arms importers. In 2023 Saudi Arabia signed a deal to buy drones from Turkish company Baykar, in addition to localising drone manufacturing. Ankara intends to sell its main battle tank Altay to Saudi Arabia, along with advanced missile defence systems, the report said. Turkish arms exports up 19% year on year Turkey holds 65% of global drones market Saudi Arabia and Turkey strengthen energy and defence ties Turkey also wants to partner with Saudi Arabia in the Kaan fighter jet programme. The first test flight took place in early 2024 but will take is several years to become operational. Other companies including the UK’s BAE Systems may also join the project, the official told the news agency. Turkish foreign minister Hakan Fidan, who will visit Saudi Arabia on Tuesday, is expected to discuss the deal. Turkey intends to increase its trade volume with Saudi Arabia to $30 billion, according to a local media report. The country is targeting more than $10 billion in foreign direct investment in 2024, supported by a planned $5 billion investment from an unnamed Saudi company, vice president Cevdet Yılmaz told local media.
