Media: Türkiye expects $50 billion in Gulf investments after upcoming Erdogan visit

Türkiye expects investments worth more than $50 billion during President Recep Tayyip Erdogan's visit to the UAE, Qatar, and Saudi Arabia on July 17-19.

"It is possible that the landing in the Persian Gulf next week will bring much faster results. The investment expectation of $40 billion in negotiations with the UAE reported earlier has already exceeded $50 billion when it comes to the three countries. They may not all be signed during this visit, but a sum well in excess of $50 billion is on the table," the Hurriyet newspaper writes, citing sources.

It is noted that all three countries are separately evaluating options such as joint investments, acquisition, and development of projects in Türkiye's energy, infrastructure, transport, and defence industries.

"President Erdogan's trip to Saudi Arabia, Qatar, and the United Arab Emirates, which begins on Monday, will bring important results for the economy. Finance and Treasury Minister Mehmet Şimşek has started preparatory visits together with Vice President Cevdet Yılmaz, and Central Bank Governor Hafizeh Gaye Erkan has also joined the preparations. Very serious preparations have been made. In the coming period, in addition to tourism, infrastructure works have been finalised, which will open the door for a significant inflow of resources to Türkiye," the newspaper said.