President Erdoğan’s Gulf Tour

​​Turkish President Erdoğan embarked on a new Gulf tour on Monday in an attempt to attract new investments to Türkiye. Following the ministerial-level meetings between the Turkish and Gulf officials a short while ago, President Erdoğan initiated a series of meetings at the presidential level with the oil-rich Gulf countries to attract giant investments that can bolster the Turkish economy, which has faced a downturn over the past years. During the 3-day-long tour, the Turkish President visited Saudi Arabia, Qatar, and the UAE. Erdoğan was joined by dozens of Turkish businessmen and a high-level delegation during the trip. Moreover, several business forums were organized by Türkiye’s Foreign Economic Relations Board (DEİK) in Jeddah, Doha, and Abu Dhabi throughout the visits.

Following the delegation meetings of the two sides led by the Saudi Crown Prince and President Erdoğan, both sides signed a number of deals ranging from industry and energy to defense and communications. Remarkably, Saudi Arabia has signed an agreement with the Turkish drone manufacturer Baykar, showing the Kingdom’s desire to enhance its defense capabilities. Following Saudi Arabia, President Erdoğan visited Qatar and the UAE, respectively. Of note, Türkiye and the UAE have inked many agreements amounting to 50,7 billion USD.