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Turkish Private Companies Sign 26 Agreements with Saudi Arabia, Qatar, and UAE: Boosting Investment in the Turkish Private Sector


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Turkish Private Companies Sign 26 Agreements in Saudi Arabia, Qatar, and the UAE

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Turkish private companies have successfully concluded 26 agreements during President Recep Tayyip Erdogan’s visit to Saudi Arabia, Qatar, and the UAE. These agreements were finalized on Thursday.

Boosting Business Relations

The visit included joint business forums between Turkey and the three countries, bringing together approximately 200 Turkish businessmen from various sectors. The sectors represented included real estate, contracting, industry, agriculture, food, computer science, smart cities, ports, and banks. The forums also saw a significant presence of investors from these countries.

During the forums, fruitful bilateral and multiple meetings took place, where tangible aspects of cooperation were discussed and translated into concrete steps. As a result, 26 new agreements were signed across various sectors. These agreements are expected to be implemented shortly, presenting promising investment opportunities in the Turkish private sector.

Furthermore, it is anticipated that additional agreements will be developed as a result of these meetings, contributing to further strengthening of the business relationships between Turkey, Saudi Arabia, Qatar, and the UAE.

Positive Political Relations

Nael Olbak, the head of the Council for Foreign Economic Relations of Turkey, expressed his satisfaction with the recent positive developments in political relations between Turkey, Saudi Arabia, the United Arab Emirates, and Qatar. He emphasized that the current period can be described as a “spring period” for their relations.

Olbak highlighted the high level of participation and support from ministers of the interested countries, illustrating their commitment to the process. For instance, the Abu Dhabi Business Forum was attended by four ministers from Turkey and three ministers from the UAE, demonstrating the political will behind these efforts.

Wide-Ranging Agreements

Olbak emphasized that the Turkish private sector signed 26 agreements, in addition to the official agreements, covering various sectors such as energy, healthcare, information technology, real estate, and food. These agreements also encompass investments in the industrial sector, including solar energy and hydrogen-related projects.

The commercial impact of these agreements is expected to be realized in the near future, contributing to the growth and prosperity of both the Turkish private sector and the economies of Saudi Arabia, Qatar, and the UAE.

Source: Anatolia

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