Turkey’s Erdogan touts investment potential on landmark UAE visit -Breaking
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© Reuters. FILE PHOTO: Turkish President Tayyip Erdan meets Abu Dhabi Crown Prince Mohammed bin Zayed al-Nahyan, Abu Dhabi, United Arab Emirates. February 14, 2022. Presidential Press Office/Handout via REUTERS/File photo2/2
DUBAI, (Reuters) –Turkish President Tayyip Erdan praised Turkey’s advantages in investment to the United Arab Emirates business community on Tuesday. This was after a flurry if economic deals between the countries trying to end a period characterized by animosity.
Erdogan visited the UAE for the first-time since 2013. He was greeted by Abu Dhabi Crown Prince Mohammed bin Zayed al-Nahyan, UAE’s de facto ruler, who met him at his arrival. The Burj Khalifa is the tallest building in the world, and projected Turkey’s flag.
After Ankara launched an aggressive charm campaign last year in a period of economic instability in Turkey, and the UAE turning towards soft power politics, the UAE has taken the decision to restrain regional rivalry.
Erdogan said that the mutual goal was to raise bilateral relations to a higher level in all areas. Investors looking to find alternatives to Asia’s production zones should consider Turkey.
Erdogan later met Mohammad bin Rashid (Dubai’s ruler) at Expo 2020 Dubai. This is the first Middle East world fair.
Erdogan briefly spoke about Turkey’s efforts to preserve the environment.
State media reported that the UAE and Turkey signed Monday a joint declaration on starting bilateral negotiations to reach an investment and trade deal. After investment agreements worth billions were signed by Sheikh Mohammed in Turkey’s November visit, this joint statement follows. [L1N2UP1HN]
As the regional trade and tourism center, UAE has stated that it is willing to resolve long-standing differences with Turkey, Iran, and other countries as it ramps up its economic growth following the pandemic.
Anwar Gargash was the UAE’s diplomat adviser and stated in a tweet (NYSE:) about Erdogan’s visit that “The UAE considers economic cooperation… as a key instrument in wisely managing diverse issues to rid our area of continual escalation.”
This rift is a result of the Arab uprisings. Turkey supported the Muslim Brotherhood, and its Islamist allies, challenging established autocrats in Tunisia and Syria. It alarms the UAE’s Dynastic rulers who view the Brotherhood as both a security and political threat.
A separate statement from Turkey indicated that it is seeking to improve relations with Israel. It sent a delegation ahead of the planned Ankhara trip by Israeli President Isaac Herzog.
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