Turkey’s Erdogan to visit Gulf States
QAMISHLI, Syria (North Press) – Turkish President Recep Tayyip Erdogan is due to embark on a tour of Gulf countries in order to strengthen economic ties, as he will visit Saudi Arabia and Qatar after an official trip to the United Arab Emirates (UAE).
Turkey’s Finance Minister Mehmet Simsek said that Erdogan will visit the UAE, and officials from both countries will try to strengthen economic ties ahead of the visit.
The president planned to visit Saudi Arabia and Qatar next, I24 News reported, citing Turkish officials, speaking on condition of anonymity.
President Erdogan’s unconventional approach of maintaining low interest rates, despite the resulting inflation, has caused many Western investors to withdraw. As a result, the Gulf countries have emerged as potential replacements for these investors, which has led to Erdogan’s visit to these countries, according to the source.
Turkey sat a target of attracting $25 billion of investments through various channels from the Gulf states, including privatization and acquisitions, according to officials.