Türkiye, UAE sign $50.7 billion deals as Erdoğan caps Gulf tour
ANKARA
President Recep Tayyip Erdoğan concluded his three-country Gulf tour with the United Arab Emirates on July 19, signing a series of strategic agreements amounting to $50.7 billion.
The primary focus of the tour, which included Saudi Arabia and Qatar, was to attract investments and foster economic ties between Türkiye and the Gulf region.
“Today, we have witnessed the signings of several strategic agreements and [memoranda of understandings] worth a total of $50.7 billion to further cement ties between the UAE and Türkiye," Turkish Treasury and Finance Minister Mehmet Şimşek tweeted late on July 19.
The 13 agreements encompassed a wide range of sectors, including export financing, earthquake bonds, energy, defense, judiciary and aerospace.
During his visit to Abu Dhabi, Erdoğan held a meeting with UAE leader Sheikh Mohammed bin Zayed Al Nahyan at Qasr Al Watan, the UAE's presidential palace. The two leaders co-chaired the meeting between the delegations and expressed their commitment to strengthening bilateral relations.
In his remarks at the meeting, Erdoğan conveyed his appreciation for the warm hospitality he and his delegation received in the UAE, emphasizing the importance of the agreements signed during the visit, which he believed would elevate the relationship between Ankara and Abu Dhabi to the level of strategic partnership.
“We will ensure that our relations are approached regularly at the highest level through the high-level strategic council mechanism. We find it beneficial to organize a trade and investment forum in the autumn in Istanbul to introduce the agreement to our business world," Erdoğan said.
Additionally, both leaders voiced their desire to enhance cultural ties, with Erdoğan expressing his hope to inaugurate the Turkish Cultural Center in Abu Dhabi later this year.
As a symbol of appreciation for his visit, the Emirati leader presented Erdoğan with the Order of Zayed. In response, Erdoğan gifted Türkiye's new electric car Togg to his counterpart following the meetings.
Erdoğan's Gulf tour started with a stop in Saudi Arabia, where a substantial drone procurement contract was signed with Turkish defense firm Baykar. The following day, the president traveled to Qatar, where Türkiye and Qatar signed a joint statement, and nearly 100 other documents were exchanged to enhance bilateral cooperation in various sectors.
