Türkiye hopes for UAE financial resources to overcome the crisis.

Türkiye hopes for UAE financial resources to overcome the crisis.

Relations between Turkey and the United Arab Emirates have been on a path of development in recent years after a complex tension.

The Erdogan government is trying to make the UAE its most important investor and financial partner in light of the widespread economic crisis that has engulfed Turkey. However, evidence suggests that the Emiratis are proceeding cautiously in this direction, and the amount of their capital transfers to operate in the Turkish market has not yet reached substantial figures.

During the recent visit of UAE President Mohamed bin Zayed Al Nahyan to Ankara, the first meeting of the Supreme Strategic Council was held, and seven agreements were signed between the two countries.

Turkish President Recep Tayyip Erdogan announced in a joint press conference with Sheikh Mohammed bin Zayed Al Nahyan that the annual volume of trade exchanges between Turkey and the UAE has exceeded $20 billion, and they aim to achieve the ambitious goal of $40 billion next year.

Erdogan also noted that after the normalization of relations between Turkey and the UAE in 2023, “the strategic partnership has begun to bear fruit in almost every field. From trade and infrastructure to defense and energy industries, and from technology to transportation, we have made significant progress.”