UAE crown prince’s Turkey visit may unlock billions in investment - Bloomberg

The United Arab Emirates’ de facto ruler Sheikh Mohammed Bin Zayed Al Nahyan’s visit to Turkey on Wednesday will both mark a further thawing in relations and potentially open the door to billions of dollars in trade and investment, Bloomberg reported on Tuesday.

Nayhan’s visit with Turkish President Recep Tayyip Erdoğan in Ankara, the highest level by the UAE to Turkey in years, will be marked by talks on business, it said, as the countries look to turn a new page after a decade of frosty relations, which began to thaw earlier this year.

In August, Emirati national security advisor Sheikh Tahnoun bin Zayed Al Nahyan met Erdoğan in Ankara. After the meeting, Erdoğan said that the two countries had made progress in improving relations, which could lead to significant UAE investment in Turkey.

Erdoğan and Sheikh Mohammed in August also spoke on the phone, in a new sign of improving ties between the regional rivals as they discussed bilateral ties.

Several deals have been struck between the countries since ties improved while Abu Dhabi wealth funds have been looking for business in Turkey, Bloomberg reported on September citing sources, as scouting targets for billions of dollars in potential investments.

Turkey and the UAE have been at odds over their respective foreign policies for a decade.

Turkey has effectively thwarted attempts by the Gulf state to exert its influence in the region through a failed boycott of Turkey-ally Qatar. Turkish support of Libya’s Government of National Accord (GNA), turned the tide against the UAE-backed forces of Field Marshal Khalifa Haftar in the Libyan civil war.

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