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Turkish President Receives Abu Dhabi Crown Prince in Ankara

Turkish President Receives Abu Dhabi Crown Prince in Ankara

Wednesday, 24 November, 2021 - 18:30
Turkish President Recep Tayyip Erdogan and Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed al-Nahyan review a guard of honor during a welcome ceremony in Ankara, Turkey, November 24, 2021. (Presidential Press Office/Handout via Reuters)

Turkey and the United Arab Emirates signed accords on energy and technology investments on Wednesday after talks between President Recep Tayyip Erdogan and Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed al-Nahyan in Ankara.


Sheik Mohammed's meeting with Erdogan, the first such visit in years, comes as the two countries work to mend frayed ties after a period of bitter regional rivalry, and amid a currency crisis in Turkey.


The memorandums of understanding were signed between the Abu Dhabi Development Holding (ADQ), Turkish Wealth Fund (TVF), and the Turkish Presidency Investment Office, as well as with some Turkish companies.


Following the talks, Sheikh Mohammed said he had "fruitful" talks with Erdogan on strengthening ties between Turkey and the UAE.


"I look forward to exploring new cooperation opportunities to benefit our two nations and advance our mutual development goals," he said on Twitter.


ADQ signed an accord on investing in Turkish technology firms and on establishing a technology-oriented fund, while Abu Dhabi Ports also signed an agreement on port and logistics cooperation.


A deal between ADQ and Turkish company Kalyon on energy and infrastructure, another with CCN Group on health cooperation, and a third with Turkey's Presidency Investment Office on renewable energy were also among the agreements, a Turkish official said.


The UAE announced it was establishing a $10 billion fund to support mainly strategic investments in Turkey, including in the health and energy fields, its state news agency WAM said.


The Turkish and Emirati central banks also signed a cooperation agreement on Wednesday.


Turkey said in September it was in talks with the UAE over investments in energy such as power generation, while the UAE, whose sovereign wealth funds have made significant investments in Turkish online grocer Getir and e-commerce platform Trendyol, has said it seeks deeper trade and economic ties with Ankara.


State broadcaster TRT Haber said Turkish Foreign Minister Mevlut Cavusogu will visit Abu Dhabi in mid-December.


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