<a href="https://www.thenationalnews.com/uae/2023/07/19/president-sheikh-mohamed-wishes-peace-and-harmony-on-hijri-new-year/" target="_blank">President Sheikh Mohamed</a> spoke of his commitment to strong ties with Turkey on Wednesday as he welcomed <a href="https://www.thenationalnews.com/uae/government/2023/07/18/turkeys-erdogan-lands-in-uae-as-part-of-gulf-tour/" target="_blank">Recep Tayyip Erdogan</a> to Abu Dhabi. Agreements estimated to be worth $50.7 billion (Dh186 billion) were signed between the two nations. These will add to the framework of the Comprehensive Economic Partnership Agreement (Cepa) between the two countries. Sheikh Mohamed said he "enjoyed fruitful talks with President Erdogan, as we explored ways to continue building on the close, historic ties between our two countries". "The UAE and Turkey remain committed to fostering regional stability, growth and sustainable economic development." Mr Erdogan is in the Emirati capital on the final day of a trip to the Gulf, where he is seeking investment opportunities and looking to forge stronger ties with the region. The accords signed at Qasr Al Watan represent a massive investment in Turkey, which has suffered sky high inflation and a devalued currency. <a href="https://www.thenationalnews.com/business/economy/2023/03/03/uae-and-turkey-sign-comprehensive-economic-partnership-agreement/">The two counties signed the Cepa</a> earlier this year and the deal was ratified in May. It is expected to help push bilateral non-oil trade to more than $40 billion from about $19 billion currently as well as create thousands of jobs in the two countries, UAE Minister of State for Foreign Trade, Dr Thani Al Zeyoudi said previously. The two leaders agreed to establish a high-level strategic council which would serve to strengthen the ties between the UAE and Turkey. Several agreements and Memoranda of Understanding (MoUs) worth billions were established that promised to further enhance collaboration. Among at least a dozen deals signed was a strategic co-operation agreement between oil company Adnoc and the Turkish Petroleum Corporation, an agreement between the Abu Dhabi Investment Office and Turkey's Investment Office of the Presidency and joint work in the field of defence industries between the UAE's Tawazun Council and the Turkish Defence Industries Agency. Furthermore, the two countries signed an extradition agreement and a deal relating to mutual legal assistance in criminal matters. Other highlights included the Ministry of Investment and Turkey's Ministry of Industry and Energy and Natural Resources working together to develop energy and natural resource projects, and potential coopertation between the UAE Space Agency, the Turkish Ministry of Science, Industry and Technology, and the Turkish Space Agency. Sheikh Mohamed bestowed on Mr Erdogan the Order of Zayed, the highest civilian honour, as a "reflection of the UAE’s appreciation for his efforts" at strengthening relations and building upon the historic ties. Talks built on ties forged when Sheikh Mohamed visited Ankara in November 2021 and pledged a $10 billion fund to invest in Turkey's economy. The two leaders last met in June after Mr Erdogan's re-election. Total UAE investments in Turkey reached $7.8 billion by the end of 2021, spanning several sectors, such as financial services, real estate, transportation, renewable energy, ports and logistical services. Last year, IHC, through its subsidiary International Energy Holding,<a href="https://www.thenationalnews.com/business/energy/2022/08/11/abu-dhabis-ihc-acquires-50-of-turkish-renewable-energy-company-kalyon-enerji/"> acquired a 50 per cent stake</a> in Turkish renewable energy company Kalyon Enerji for Dh1.8 billion ($490 million). Mr Erdogan has sought to improve diplomatic ties and friendships with Gulf nations after disagreements over the past decade. Turkey, with its substantial population, manufacturing base and location at the crossroads of Europe and Asia, is seen as a natural partner for business-minded Gulf nations.
