Gulf countries expected to realize significant deals and agreements with Turkey

Turkey, under the leadership of President Recep Tayyip Erdogan, has been making efforts to strengthen its ties with Gulf states through a charm offensive. This has led to various significant deals and agreements being formed across different sectors, particularly in defense and energy.

One notable deal involves a Turkish drone factory being established in Saudi Arabia as a result of a $3.1 billion agreement with the defense company Baykar (established in Turkey). This move signifies Turkey’s growing cooperation with its former Gulf rivals, as well as its intention to deepen economic and strategic partnerships in the region.

President Erdogan’s diplomatic efforts gained momentum with his tour of Gulf capitals at the beginning of his third term in office. This tour aimed to mend diplomatic ties and attract foreign investment to stimulate Turkey’s sluggish economy. The Gulf states have shown receptiveness to Erdogan’s initiatives, with the UAE alone signing agreements worth $50 billion during his visit, surpassing Turkey’s initial expectations.

While specific details of the agreements and deals remain somewhat unclear, the overall direction indicates a surge in collaboration across various sectors in the coming months. The Gulf countries’ wealth funds and major players in the energy sector, such as Aramco and ADNOC, are anticipated to engage in substantial business ventures with Turkey.

In essence, this charm offensive by Turkey’s President Erdogan is leading to a flurry of economic activities, fostering cooperation in areas like defense, energy, and more, and setting the stage for increased investments and business partnerships between Turkey and the Gulf states.

(al-monitor.com)