UAE announces $10 billion investment fund in Turkey
Announcement comes on side-lines of visit to Turkey by Sheikh Mohamed bin Zayed Al Nahyan
Published: November 24, 2021 20:24
Abu Dhabi: The UAE on Wednesday announced the setting up of a $10 billion (around Dh36.7 billion) fund to support investments in Turkey.
The announcement came on the side-lines of the visit to Turkey by His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.
Sheikh Mohamed held talks with the President of the Republic of Turkey, Recep Tayyip Erdogan, including on enhancing support for the Turkish economy and strengthening cooperation between the two countries.
The fund will focus on strategic investments, especially the logistical sectors, including energy, health and food.
The setting up of the fund is in line with of the UAE’s approach to strengthen its relations with Turkey in all fields, with a focus on investment to enhance inter-trade and cooperation in new economic sectors that give a boost to the economies of both countries.
The UAE seeks to build tripartite and quartet economic partnerships, with Turkish economy being part of these partnerships, given the great potential and capabilities of the economies of the two countries.