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Erdogan calls for UAE companies to make investments in Turkey.

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Erdogan has arrived at the UAE capital Abu Dhabi on Monday for two days of visit to help revive relations that had been strained for a long time by regional disputes. It was his first visit to this country’s oil-rich Gulf country in over ten years.

“As the most prominent representative from the business sector of the United Arab Emirates, I am certain you understand the advantages of creating business and investment partnerships in Turkey,” he told investors at a business event held in Abu Dhabi.

“It you, the highly respected people of the business community, that will realize the potential of both countries, particularly with regard to trade and investments.”

Erdogan’s visit came after He was Crown Prince Mohammed bin Zayed Al-Nahyan, the UAE’s de facto ruler. He traveled through Ankara in November to make the first visit of a high-level official to Turkey since 2012.

Erdogan arrives in the UAE to strengthen long-stressed ties.

On Tuesday, the Turkish president announced that his visit “started an era of new beginnings” in relations with UAE, adding that there was a “strong common desire to improve trade relations and expand investment.”

13 agreements

On Monday, Erdogan He and Sheik Mohammed supervised their signature of 13 agreements for cooperation and memoranda for understanding and a formal letter of intent regarding cooperation in the defense industries, as reported by the official UAE WAM information agency.

The other areas for cooperation include technologies, health climate action, disaster, crisis management, and other regions, the news agency reported.

The trade between Turkey and the UAE reached 26.4 billion Dirhams ($7.2 billion) in 2021. The UAE is hoping to triple or even double its trade volumes with Turkey and sees it as a means to enter new markets.

More than 400 Emirati firms operate in Turkey The UAE is its 11th most significant trading partner, WAM stated.

Turkey, along with the UAE, has supported both sides in regional conflicts and Libya and fought on issues such as the exploration of gas across the east of the Mediterranean.

Qatar, as well as UAE heads, meet for the first time since Gulf the thaw.

The relations between Turkey and the UAE were especially tense because Saudi Arabia, the UAE, and Bahrain in 2017 ended all connections with Qatar, an influential Turkish all-weather ally. These relations were restored in January 2021.

However, Erdogan has, since the beginning of last year, attempted to improve relations with rivals from the region in the context of growing diplomatic isolation that has led to foreign investment to wane, especially those from Europe.

In the wake of Sheikh Mohammed’s visit to November, The UAE announced an investment fund of $10 billion for investment in Turkey. A currency crisis cut off people’s purchasing power, and inflation soared to near 20-year levels in the last month.

The month before, Erdogan said he would travel to Saudi Arabia in February. After the rift between the two countries, his first visit to Riyadh grew following the murder in 2018 of Saudi critic Jamal Khashoggi inside the kingdom’s consulate in Istanbul.

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