Turkish President Recep Tayyip Erdoğan on Feb. 15 called on businesspeople of the United Arab Emirates (UAE) for investing in Turkey, stressing that the business environment is the center of attraction for the region.
“The UAE is one of the primary trade partners of Turkey in the region,” Erdoğan said, addressing businesspeople in the Gulf country. He added that the trade between the two countries has kept its “vitality” despite a “standstill” in bilateral political ties.
This was the proof of deep-rooted bilateral trade and human relations and solid infrastructure between the two countries, Erdoğan stated.
The Gulf state’s de facto ruler Abu Dhabi Crown Prince Mohammed bin Zayed Al Nahyan’s visit to Ankara in November last year has “turned a new page in relations between Turkey and the UAE,” the president said.
The Gulf country provides financial support and investment opportunities for advanced technology companies and startups, Erdoğan recalled and said: “Turkey, on the other hand, leads new initiatives that develop advanced technology and have a name on a global scale with its dynamic and young population.”
“Turkey is a country that stands out with its 85 million population, rising industrial production, qualified employment capacity, physical infrastructure and geographical location,”he added.
Erdoğan underlined that he believed as countries that complement each other economically, they would make significant progress in a short time.
“Turkey has an extremely attractive legislation on doing business and investment,” Erdoğan noted, adding that the country is appealing to international investors.
Turkey and the UAE signed 13 agreements, including the defense industry, health, climate change, industry, technology, trade, economy, culture, agriculture, youth, transportation, disaster management, meteorology, communication and archive, during the visit of Erdoğan to Abi Dhabi on Feb. 14
Erdoğan visited the Gulf country for the first time in nearly a decade, as ties improve between the two countries.
“Our common goal is to take our bilateral relations to a much higher level in every field,” he stated.
Relations between Turkey and the UAE were severely impacted after a Saudi Arabia-led blockade on Qatar by Arab nations, including the UAE, that lasted from mid-2017 to early last year. Doha is one of Ankara’s closest allies.
The UAE and Turkey backed opposing sides in the Libyan conflict, where a fragile ceasefire has been in place since October 2020.
The crown prince visited Ankara last month, making his first official trip to Turkey since 2012 and the highest-level visit by an Emirati official in recent years.
Erdoğan and the crown prince oversaw the signing of several investments and cooperation deals on Nov. 24 last year.
The UAE has allocated a $10 billion fund to invest in Turkey, the CEO of the Abu Dhabi Developmental Holding Company announced.