UAE, Turkey to sign new deals during Turkish President’s UAE visit; Official

By Salma C, Intern Reporter
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UAE & Turkey
Mr. Mustafa Sentop, Speaker of the Grand National Assembly of Turkey, meets Mr. Saqr Ghobash, the Speaker of the Federal National Council (FNC), in Abu Dhabi.

According to a senior Turkish official, as part of the much-awaited UAE visit of Turkey President Mr. Recep Tayyip Erdogan, both countries are expected to sign new agreements and “renew previous commitments.”

Mr. Mustafa Sentop, Speaker of the Grand National Assembly of Turkey, revealed that, “Our President’s visit to the UAE is currently confirmed and the preparations are ongoing. This is going to be a testament to the improved ties between our countries,”

“We believe that the leaders of Turkey and the UAE standing next to each other will deliver an important message on its own. The objective is to further strengthen bilateral relations. There are mutual efforts to conclude new agreements and to renew previous commitments to cover a wider range in our current cooperation,” Mr. Sentop added, without specifying the potential agreements to be signed.

Mr. Erdogan’s visit comes two months after HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, had visited him in Ankara. During the visit, the UAE announced to set up a $10 billion investment in Turkey.

The Speaker of the Turkish Parliament had met with Mr. Saqr Ghobash, the Speaker of the Federal National Council (FNC), in Abu Dhabi. They discussed developing parliamentary relations between the two countries.

Mr. Sentop further added that, “Sheikh Mohamed bin Zayed’s visit to Turkey was an important step in carrying forward our relationship to a new level. Cooperation agreements were signed on important matters.”

“Our goal is to [strengthen] the cooperation between Turkey and the UAE in the fields of climate change, energy, water and food security, in addition to health, agriculture, logistics, infrastructure, finance and tourism. I believe that both parties are ready to set new targets for further investments and cooperation,” observed Mr. Sentop.

The UAE is Turkey’s top trading partner among the GCC countries, the bilateral trade between the two countries in 2020 had reached $8 billion. The Turkish official said the trade in the first 10 months of 2021 had amounted to $6.4 billion.

Mr. Santop explained that Turkish contractors have undertaken 141 projects worth $13 billion in the UAE. Turkish companies have been investing in and are part of the UAE market for over 10 years. Turkish investments in the UAE amounted to $720 million.

Mr. Santop continued that, “In the coming years, we wish to increase our investment share in the UAE in the fields of logistics, finance, renewable energy and infrastructure.”

The Speaker of the Turkish Parliament affirmed that, the visit of the Abu Dhabi Crown Prince, Sheikh Mohamed bin Zayed, to Turkey, and the visit of President Mr. Recep Tayyip Erdogan to the UAE, which is planned in February, will make a positive momentum in the relations between the two countries and there will be further developed economic relations.

Recently, the Central Bank of United Arab Emirates (CBUAE) and Central Bank of Turkey have signed a nearly $5 billion bilateral currency swap agreement in both national currencies. The agreement follows the earlier visit by Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed al-Nahyan to Turkey.

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