The hefty deal between the two neighbors is the latest indication of warming Turkish-Emirati ties.
Turkish President Recep Tayyip Erdoğan’s visit to Abu Dhabi yesterday (July 19) included the signing of 13 agreements between Turkey and the UAE in various fields.
A statement from Erdoğan’s Communication Minister said the following regarding the deal:
“We’ve decided to strengthen our cooperation in fields such as energy, transportation, infrastructure, logistics, e-commerce, finance, health, food, tourism, real estate, construction, defense industry, artificial intelligence and advanced technologies. The total amount of agreements signed in these areas is 50.7 billion dollars.”
An English-language tweet from Mehmet Şimşek, Turkey’s newly appointed Treasury and Finance Minister, read:
“Today we have witnessed the signings of several strategic agreements and MOUs worth a total of USD 50.7 billion to further cement ties between the UAE and Turkiye. The agreements across a range of sectors including export financing, earthquake bonds, energy, defence, infrastructure, technology, and banking reflect the UAE’s confidence in our program. We are grateful for the UAE’s continued strong support for Turkiye.”
Erdoğan’s visit to the UAE marked the end of a three-day Gulf tour, following stops in Qatar and Saudi Arabia earlier this week. The tour comes as Erdoğan seeks foreign investment amidst an ailing Turkish economy and surging inflation. While relations with Riyadh and Abu Dhabi have been icy in recent years, the recent visits signal a thaw between Ankara and its Gulf neighbors.
Written for Medyascope by Leo Kendrick
