The Turkish Competition Authority has approved investment rights for the Saudi Arabian Oil Company, Birgün newspaper reported on Monday, amid an informal boycott by the Kingdom of Turkish products.
The greenlight provided by the country’s competition authority allows for Saudi Arabia’s national petroleum and natural gas company, Aramco, to establish production facilities for the development and operation of facilities producing non-composite products to be used in petroleum and natural gas applications in Turkey, Birgün said.
Relations between Riyadh and Ankara have been strained since the death of Saudi dissident journalist Jamal Khoshoggi in Istanbul in 2018, and the kingdom has recently extended its unofficial boycott on Turkish goods.
An unofficial embargo on Turkish products has continued since last year in the country.
Earlier this month, Turkish Foreign Minister Mevlüt Çavuşoğlu met with his Saudi Arabian counterpart Faisal bin Farhan al Saud during an Organisation of Islamic Cooperation (OIC) summit in Niger’s capital Niamey, signalling a normalisation of ties between the two regional rivals.
