Türkiye, UAE sign 13 deals worth $50.7B

ISTANBUL

Türkiye and the United Arab Emirates (UAE) on Wednesday signed a total of 13 deals worth $50.7 billion, the Turkish Communications Directorate said.

In a statement, the directorate said that both sides have reached an agreement to establish a High-Level Strategic Council, to be chaired by the presidents of Türkiye and the UAE.

Türkiye's relations with the UAE have been elevated to the level of strategic partnership as a result of the agreement, it said.

"The parties also decided to advance the existing cooperation in fields such as energy, transportation, infrastructure, logistics, e-commerce, finance, health, food, tourism, real estate, construction, defense industry, artificial intelligence and advanced technologies," the statement said.

"The total value of agreements signed in these areas is worth $50.7 billion," it added.

Turkish President Recep Tayyip Erdogan said that his country will ensure that relations with the UAE are addressed regularly at the highest level through the High-Level Strategic Council mechanism.

His remarks came as Erdogan and UAE President Sheikh Mohammed bin Zayed Al Nahyan led delegation-level talks at the Al Watan Palace in Abu Dhabi.

Expressing satisfaction with the development of close dialogue and cooperation on the 50th anniversary of diplomatic relations with the UAE, Erdogan said Türkiye aims to strengthen legal infrastructure with UAE in areas including investment promotion, security, renewable energy and transportation.

“With the joint agreement we will sign, we will elevate our relations to the level of strategic partnership,” Erdogan said, adding: “We find it beneficial to organize a Trade and Investment Forum in Istanbul in the autumn to introduce the agreement to our business world.”

Erdogan said that cooperation between the two countries would advance further with the International Defense Industry Fair (IDEF) to be held in Istanbul on July 25-28.

He expressed his pleasure for being invited as the "guest of honor" to the Abu Dhabi International Book Fair.

Al Nahyan also awarded Erdogan with the Order of Zayed, the UAE’s highest civil decoration.

Erdogan started his three-nation Gulf tour on Monday with Saudi Arabia, followed by Qatar. The UAE is his last stop.