President Erdogan and UAE President Sheikh Mohammed bin Zayed Al Nahyan led delegation-level talks at Al Watan Palace in Abu Dhabi.
The United Arab Emirates (UAE) and Turkiye yesterday signed 13 agreements worth $50.7 billion during President Recep Tayyip Erdogan’s visit to the country. The two sides will establish a High-Level Strategic Council chaired by President Turkiye and the United Arab Emirates. Turkiye’s relationship with the UAE has now been elevated to the level of a strategic partnership.
In a statement, the Turkiye presidential communications directorate said both sides had agreed to establish a High-Level Strategic Council chaired by the presidents of Turkiye and the UAE.
Turkiye’s relationship with the UAE has now been elevated to the level of a strategic partnership.
“The parties also decided to promote existing cooperation in areas such as energy, transportation, infrastructure, logistics, e-commerce, finance, healthcare, food, tourism, real estate, construction, defense industry, artificial intelligence and advanced technology,” the statement said.
“We see it as beneficial to hold the Trade and Investment Forum in Istanbul in the fall to introduce the deal to our business world,” Erdogan was quoted as saying by Turkish media.
Turkish Finance and Treasury Minister Mehmet Simsek told a business forum that his country plans to announce a structural reform program in September, along with a medium-term economic program.
The two countries signed a currency swap deal worth nearly $5 billion last year to bolster Ankara’s dwindling foreign currency reserves. A free trade agreement was signed between the two sides in March this year to raise bilateral trade to $40 billion annually within five years.
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