The visit to Abu Dhabi of President Erdogan, marked by the signing of cooperation agreements, confirms the thaw between the two countries.
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Announcing the opening of “a new” diplomatic page “, the Turkish president, Recep Tayyip Erdogan, visited Monday 14 and Tuesday, February 15, visiting the United Arab Emirates (Water), where he has been received with all the honors by Mohammed Ben Zayed, the strong man of the monarchy, came to welcome him in person at the airport.
Honor of Honor, Cannon Salve, Posters Straticize the “Strategic” Partnership Between the two countries, the Crown Prince of Abu Dhabi, nicknamed “Mbz”, put the little dishes in the big ones to receive his host, confirming the thaw intervened in relations between the two countries after years of blur.
In Dubai, the highest tower of the world, Burj Khalifa, was illuminated with the colors of the Flags Emirati and Turkish to mark the tour of the Turkish president, including the last stay in the Emirates dates back to 2013, when he n ‘ was that Prime Minister.
A boon for Ankara
His visit follows that performed by “Mbz” in November 2021 in Ankara, who had announced the creation of an investment fund of about € 9 billion to support Turkish companies, prey to economic difficulties.
Monday, the two leaders continued on the same momentum, with the signing of thirteen cooperation agreements in various fields ranging from petrochemical health, passing through transport. A letter of intent has also been signed on cooperation between the defense industries of the two countries, focused in particular on the production of drones.
The spectacular fall of the Turkish book, which lost 45% of its value against the dollar in 2021, creates unprecedented opportunities for Emirate investors wishing to acquire units in the devalued Turkish companies.
The Turkish government is struggling against a galloping inflation (50%) which penalizes SMEs and tarnished the country’s reputation, including The credit note has just been revised downward this weekend by the Fitch Ratings Financial Notation Agency.
Emirates investments in Turkey constitute a bargain for Mr. Erdogan. At the end of the year 2020, they reached nearly 4.4 billion euros, compared to 312 million euros of Turkish investments in the Emirates. In the first half of 2021, the volume of bilateral trade was more than 6.3 billion euros, a growth of 100% compared to the same period in 2020, according to the Emiratie Wam Agency.
In January, Abu Dhabi flew to the rescue from Turkey by concluding with Ankara a currency exchange agreement equivalent to $ 4.74 billion (€ 4.18 billion) to renew the Turkish reserves of changes, fallen at the lowest.
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