A package of agreements on cooperation between Turkey and the United Arab Emirates (UAE) in the energy, transport and military-industrial complex is scheduled to be signed during the visit of Turkish President Recep Tayyip Erdogan to Dubai. The visit is planned for after the Eid al-Adha holiday, which is celebrated from June 28 to July 1, Hurriyet daily reported on Monday.
The daily said that the preparations for the visit were discussed last week in the UAE by a Turkish delegation that included Vice President Cevdet Yilmaz and Finance Minister Mehmet Simsek. The talks laid the groundwork for $30-40 billion investments in Turkey, and concrete steps for implementing these projects will be made during Erdogan's visit, Hurriyet writes.
Cooperation in the spheres of renewable energy, transportation (seaports, airports, infrastructure), financing the reconstruction of the southeast of Turkey, affected by the devastating earthquakes in February, are all part of the agreement. A separate issue is the military-industrial cooperation: it may concern not only selling Bayraktar drones to the UAE, but also their partial joint production. Hurriyet notes that UAE investments in Turkey will be direct and long-term.
In November 2021, Sheikh Mohammed bin Zayed Al Nahyan, then Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Emirati Armed Forces, visited Ankara. It was the first visit of a senior UAE government official to Turkey since 2012. At the time, the UAE allocated $10 billion to invest in the Turkish economy. On May 4, 2023, the UAE and Turkey signed a comprehensive economic partnership agreement that aims to increase trade between the countries to $40 billion over the next five years. Sheikh Mohammed visited Turkey on June 10 after the presidential election at the end of May.
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Based on materials from TASS