Türkiye, UAE sign $50.7 billion worth of deals, elevate relations to strategic partnership

Türkiye and the United Arab Emirates (UAE) finalized a series of 13 agreements valued at an impressive $50.7 billion on Wednesday.

The landmark deals were officially signed, according to the Turkish Communications Directorate.

One of the key outcomes of this bilateral engagement is the establishment of a High-Level Strategic Council, with both nations committing to have their respective presidents chairing the council. This move signals the elevation of their relationship to the esteemed status of a strategic partnership.

The 13 agreements span across diverse sectors, underscoring the broad scope of cooperation between the two countries. Major areas covered include energy, transportation, infrastructure, logistics, e-commerce, finance, health, food, tourism, real estate, construction, defense industry, artificial intelligence, and advanced technologies.

Turkish President Recep Tayyip Erdogan emphasized the significance of the High-Level Strategic Council, highlighting that it will facilitate regular and high-level discussions concerning bilateral relations with the UAE.

A celebratory mood prevailed during the delegation-level talks at Abu Dhabi's Al Watan Palace, where President Erdogan and UAE President Sheikh Mohammed bin Zayed Al Nahyan expressed their satisfaction with the substantial progress in their close dialogue and cooperation. The occasion was particularly special as both countries commemorated the 50th anniversary of their diplomatic relations.

President Erdogan shed light on Türkiye's strategic priorities, with a focus on bolstering the legal infrastructure with the UAE in crucial areas such as investment promotion, security, renewable energy, and transportation.

This momentous joint agreement between Türkiye and the UAE marks the strengthening of their ties to a strategic partnership level. President Erdogan proposed organizing a Trade and Investment Forum in Istanbul during the autumn season, aiming to introduce this landmark agreement to the business community.

Both leaders expressed optimism for future collaboration, anticipating further advancements in cooperation through various events like the upcoming International Defense Industry Fair (IDEF) scheduled to be held in Istanbul from July 25 to 28.

As a testament to the significance of President Erdogan's visit, he was bestowed with the prestigious Order of Zayed, the highest civil decoration of the UAE.

The Gulf tour embarked upon by President Erdogan commenced on Monday, featuring visits to Saudi Arabia and Qatar. His visit to the UAE marks the final leg of his diplomatic itinerary.

Analysts say the deals signal a thaw in relations between the two countries, which have been strained in recent years. The agreements are expected to boost economic cooperation between Türkiye and the UAE, which are both major regional powers. The two countries have also agreed to work together on security issues, including the fight against terrorism. The deals are seen as a positive development for the region, as they could help to promote stability and cooperation. (ILKHA)