Turkey, Economy, Middle East

Turkey, UAE sign series of cooperation agreements

Abu Dhabi crown prince meets Turkish president in 1st high-level visit in years

Mehmet Tosun and Mumin Altas   | 24.11.2021
Turkey, UAE sign series of cooperation agreements


Turkey and the UAE signed a total of 10 agreements in the fields of energy, environment, finance and trade during Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed al-Nahyan’s visit to Ankara on Wednesday.

The crown prince arrived in Ankara on the invitation of Turkey's President Recep Tayyip Erdogan.

Al-Nahyan’s visit is his first to Turkey since 2012, and the first top-level meeting between the UAE and Turkey in recent years.

A signing ceremony was held following one-on-one talks between the Turkish president and Abu Dhabi crown prince and an inter-delegation meeting.

Turkey and UAE signed a memorandum of understanding (MoU) on the exchange of financial information in order to prevent money laundering and terror financing.

Another MoU was inked between Abu Dhabi Ports Company and Turkey Wealth Fund (TVF).

The Abu Dhabi Developmental Holding Company (ADQ), the state investment fund of the UAE, and the TVF signed two MoUs.

The UAE has allocated $10 billion fund to invest in Turkey, chief executive officer (CEO) of Abu Dhabi Developmental Holding Company announced on Wednesday.

MoUs were also signed between ADQ and Turkey's Presidential Investment Office, and Abu Dhabi Securities Exchange (ADX) and Turkey's Borsa Istanbul.

Meanwhile, the Central Bank of the Republic of Turkey and the Central Bank of the UAE also inked an MoU.

The two countries signed an administrative cooperation and partnership agreement on matters pertaining to customs.

Ankara and Abu Dhabi also signed MoUs in the fields of energy and environment.

Earlier, UAE's Industry and Advanced Technology Minister Sultan Al Jaber said they are ready to set new targets for further investment and cooperation in different sectors with Turkey.

* Writing by Seda Sevencan in Istanbul

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