ANKARA - Saudi Crown Prince Mohammed bin Salman arrived in Turkey for the first time in years on Wednesday for talks with President Tayyip Erdogan aimed at fully normalising ties.

The visit comes as Erdogan seeks financial support that could help relieve Turkey's beleaguered economy ahead of tight elections for the president.

Erdogan said last week he and Riyadh's de facto leader would discuss "to what much higher level" they can take ties during talks in Ankara.

The visit is expected to bring "a full normalisation and a restoration of the pre-crisis period," a senior Turkish official told Reuters on condition of anonymity. "A new era will begin."

Erdogan welcomed Prince Mohammed at the presidential palace in Ankara with a ceremony and the two shook hands and embraced, before being met by members of the Turkish cabinet. There are no public statements scheduled after their talks.

The Turkish official said the two countries had lifted restrictions on trade, flights and the screening of TV series, with mutual negative media coverage also halted.

Agreements on energy, economy and security would be signed during the visit, while a plan was also in the works for Saudi funds to enter capital markets in Turkey, the official said.

However, he said negotiations on a possible currency swap line - which could help restore Turkey's diminished foreign reserves - were not moving "as fast as desired" and will be discussed privately between Erdogan and Prince Mohammed.

Prince Mohammed is on his first tour outside the Gulf region in over three years including a visit to Jordan.

Prince Mohammed has been leveraging Saudi Arabia's vast wealth and oil production capacity to lure in Western leaders and private business partners, hoping shifting geopolitics and a focus on social and economic reforms would soften criticism of his human rights record.

U.S. President Joe Biden is set to visit Saudi Arabia in July as Washington struggles with record high gasoline prices and building a united front against Russia after its invasion of Ukraine.

The visit also comes as Turkey's economy is badly strained by a slumping lira and inflation soaring beyond 70%. Saudi funds and foreign currency could help Erdogan shore up support ahead of elections by June 2023, analysts say.

The Turkish official said Saudi Arabia may be interested in companies within the Turkish Wealth Fund or elsewhere, or in making investments similar to those by the United Arab Emirates in recent months.

The leaders will also discuss the possible sale of Turkish armed drones to Riyadh, the person added.

(Additional reporting by Aziz El Yaakoubi in Riyadh and Daren Butler in Istanbul; Editing by Jonathan Spicer and Angus MacSwan)