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Turkey, UAE to sign accords on energy, technology at talks

i24NEWS - Reuters

clock 2 min read

Turkish President Recep Tayyip Erdogan (L) welcomes Abu Dhabi's Crown Prince Sheikh Mohammed bin Zayed Al Nahyan at the Presidential Complex in Ankara, Turkey, on November 24, 2021.
Adem ALTAN / AFPTurkish President Recep Tayyip Erdogan (L) welcomes Abu Dhabi's Crown Prince Sheikh Mohammed bin Zayed Al Nahyan at the Presidential Complex in Ankara, Turkey, on November 24, 2021.

Sheikh Mohammed's meeting with Erdogan comes as the two countries work to mend frayed ties

Turkey and the United Arab Emirates will sign accords on energy and technology investments after talks between President Tayyip Erdogan and Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed al-Nahyan in Ankara on Wednesday, a Turkish official said.

Sheikh Mohammed's meeting with Erdogan, the first such visit in years, comes as the two countries work to mend frayed ties after a period of bitter regional rivalry, and amid a currency crisis in Turkey. 

The official said the memorandums of understanding would be signed between the Abu Dhabi Development Holding (ADQ), Turkish Wealth Fund (TVF), and the Turkish Presidency Investment Office, as well as with some Turkish companies.

ADQ will sign an accord on investing in Turkish technology firms and on establishing a technology-oriented fund, the person said, adding Abu Dhabi Ports will also sign an agreement on port and logistics cooperation.

ADQ will also sign deals with Turkish company Kalyon on energy and infrastructure, one with CCN Group on health cooperation, and another with Turkey's Presidency Investment Office for UAE investments in renewable energy projects.

"Problems with the UAE are now behind us. We are entering a period based fully on cooperation and mutual benefit," said another official familiar with preparations for Wednesday's visit, and added the UAE investment would ultimately be in the billions of dollars.

Turkey's Central Bank Governor, Sahap Kavcioglu, also met United Arab Emirates officials at the Turkish presidency for preliminary talks regarding a potential swap agreement, two sources told Reuters.

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