Turkish President Recep Tayyip Erdogan is expected to pay his first official visit to the Gulf country since 2013, seeking to boost bilateral co-operation between the two former rival states.
Mr Erdogan’s visit follows a visit made in November by Abu Dhabi’s crown prince, Mohammed bin Zayed Al Nahyan, the de facto leader of the UAE, who was received with great honors in Ankara.
Abu Dhabi had previously treated the Turkish president with great hostility, accusing him of supporting political Islam. The two countries have been rivals on various issues in the Middle East – especially Libya and the crisis with Qatar.
“Erdogan’s visit to the UAE” opens a new page and is in line with the Emirates’ goal of strengthening communication and cooperation channels for stability and prosperity in the region, “said Anwar Gargas, the president’s diplomatic adviser, on Sunday. UAE.
During his visit to Turkey, Mohammed bin Zayed announced the establishment of a fund with almost 9 billion euros available to support investments in Turkey.
The UAE wants to double or triple the volume of its trade with Turkey, which it sees as a way to new markets thanks to its supply networks, according to statements made in January by Deputy Foreign Minister Thani Al Zejudi.
The volume of trade between the two countries in the first half of 2021 amounted to over 26.4 billion dirhams (6.3 billion euros), in other words increased by 100% compared to the corresponding period of 2020, according to the official Emirates news agency, WAM.
Total Emirati investment in Turkey reached almost 4.4 billion euros at the end of 2020, always according to the WAM, while Turkish investment in the UAE – in construction, real estate, finance, insurance, industry …– reached 312 million euros.
A small country with high ambitions, the UAE has been embroiled in charming diplomatic attacks in recent months, as its economy is being tested by fluctuating oil prices and the impact of the new coronavirus pandemic.
Abu Dhabi normalized its relations with Israel in 2020 and has since signed various trade agreements.
Ankara, for its part, is seeking to improve its relations with peripheral countries, as Turkey remains mired in a major economic crisis, with record inflation due to the free fall of the Turkish pound.
SOURCE: AMPE
Source: Capital
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