Türkiye, UAE to sign cooperation accords on energy, military-industrial complex

A package of cooperation agreements between Türkiye and the United Arab Emirates (UAE) in the energy, transport and military-industrial complex is planned to be signed duringTurkish President Recep Tayyip Erdogan's visit to Dubai.

It is expected at the end of the main Muslim holiday of Eid al-Adha, which is celebrated from June 28 to July 1, TASS reports with reference to the Hurriyet newspaper.

The publication notes that the preparation of the visit was discussed last week in the UAE by the Turkish delegation, which included Vice President Cevdet Yilmaz and Finance Minister Mehmet Simsek. The negotiations laid the foundation for investments in Türkiye in the amount of $ 30-40 billion, concrete steps to implement these plans will be made during Erdogan's visit, Hurriyet writes.

The package of agreements provides for cooperation in the field of renewable energy sources, transport (seaports, airports, infrastructure), financing of reconstruction work in the regions of southeastern Türkiye affected by the devastating earthquakes in February. A separate point is the project of cooperation in the military-industrial sphere: we can talk not only about the sale of Bayraktar drones to the UAE, but also about their partial joint production. Hurriyet notes that the UAE's investments in Türkiye will be direct and long-term.

In November 2021, Sheikh Mohammed bin Zayed Al Nahyan, who at that time bore the title of Crown Prince of Abu Dhabi and held the post of Deputy Supreme Commander of the Emirati armed forces, visited Ankara. This was the first visit of a high-ranking representative of the UAE government to Türkiye since 2012. Then the UAE allocated $10 billion to invest in the Turkish economy. On May 4, 2023, the UAE and Türkiye signed a comprehensive economic partnership agreement, which aims to increase trade turnover between the countries to $40 billion in the next five years. Sheikh Mohammed visited Türkiye on June 10 after the presidential elections held at the end of May.