Turkish e-commerce platform Trendyol signed a cooperation agreement with Saudi Arabia-based retail company Fawaz Al Hokair Group.
The agreement was signed by the parties at a ceremony attended by the Turkish delegation led by the Minister of Treasury and Finance Nureddin Nebati, including Investment Office President A. Burak Dağlıoğlu, Saudi Arabia's Minister of Finance Mohammed Bin Abdullah Al-Jadaan and Minister of Investment of Khalid Bin Abdulaziz Al-Falih.
Trendyol will offer made in Türkiye products to the Saudi Arabian market under the terms of the agreement and collaborate with the Fawaz Al Hokair Group to pursue additional expansion possibilities in Saudi Arabia, including a physical store.
The cooperation represents an important step for both the e-commerce and the retail sectors.
During his remarks on the agreement, Minister Nebati said, “We place a high value on this cooperation under the leadership of the Turkish delegation at the “Future Investment Initiative Summit". We welcome Trendyol, a leading technology company in Türkiye, to cooperate with the Fawaz Al Hokair Group."
Highlighting competitive products and services offered by Turkish startups on a worldwide scale, Investment Office President A. Burak Dağlıoğlu said, “International investors who trust Turkish technology startups also contribute to the opening of these companies to the world. I congratulate Trendyol and Fawaz Al Hokair Group for taking this move toward partnership."