President Erdogan’s upcoming visit to the Gulf has come to the fore again with the news reflected in the press. According to the news of Reuters, the countries of the region will make direct investments of 10 billion dollars in Turkey in the near future.
Erdogan is expected to sign agreements during his meetings with the leaders of Saudi Arabia, Qatar and the UAE on 17-19 July.
Anonymous officials, speaking to Reuters, claimed that in the long run, Gulf countries will invest up to $30 billion in long-term investments in Turkey in the energy, infrastructure and defense sectors. However, it is not yet clear who the participating companies will be.
One official attached great importance to the rapid realization of the approximately $10 billion upfront investment. Reuters emphasizes that Turkey has high expectations before the visit.
After the news reflected in the global press, there was no denial from the authorities of Turkey and Gulf countries.
Türkiye is Melting the Ice with the Gulf
Turkey has been making diplomatic attempts to improve relations with Saudi Arabia and the UAE since recently. The foreign exchange source from the Gulf countries during the election period played a major role in easing the pressure on their reserves. Speaking to the press before the second round of elections, President Erdoğan expressed his satisfaction with the countries in the region.
Last month, Turkish Vice President Cevdet Yılmaz and Finance Minister Mehmet Şimşek visited the UAE. The duo with Sheikh Mohammed bin Zayed al-Nahyan, Crown Prince of the UAE “economic cooperation” talked about.
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