Erdogan calls on UAE businesses to invest in Turkey

Thirteen cooperation agreements and memoranda of understanding signed.


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Published: Tue 15 Feb 2022, 5:53 PM

Last updated: Tue 15 Feb 2022, 5:59 PM

Turkish President Recep Tayyip Erdogan called on business leaders in the United Arab Emirates Tuesday to invest in his country.

Erdogan arrived in the UAE capital Abu Dhabi on Monday for a two-day visit, marking his first trip to the country in nearly a decade.

"As the leading representatives of the private sector in the United Arab Emirates, I am sure you fully comprehend the benefits of establishing commercial and investment partnerships with Turkey," he told investors at a business conference in Abu Dhabi.

"It is you, the esteemed members of our business world, who will realise the two countries' potential, especially in trade and investments."

Erdogan's visit comes after His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, travelled to Ankara in November on the first high-level visit to Turkey since 2012.

The Turkish president said on Tuesday that that trip "started a new era" with the UAE, adding there was a "strong collective will to develop trade relations and increase investments".

13 agreements

Erdogan and Sheikh Mohamed on Monday oversaw the signing of 13 cooperation agreements and memoranda of understanding, including a letter of intent on cooperation in the defence industries, according to the UAE's official WAM news agency.

Other areas of cooperation included health, technology, climate action and crisis and disaster management, the news agency said.

Turkey-UAE trade topped Dh26.4 billion in the first half of 2021. The UAE hopes to double or triple trade volume with Turkey, which it sees as a route to new markets.

About 400 Emirati companies operate in Turkey, the UAE's 11th largest trading partner, WAM said.

Erdogan on Tuesday also met with Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of UAE and Ruler of Dubai, at the Expo 2020 world fair, where the two discussed ways to develop bilateral relations.

"Today, while receiving President of Türkiye, Recep Tayyip Erdogan at Expo 2020 Dubai. A new phase of UAE-Turkish strategic partnership is established. Our economic relations holds great prospects. I am optimistic about the regional stability and prosperity, led by both countries," Sheikh Mohammed tweeted after meeting the Turkish President.

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