Ankara, 25 November 2021 (TDI): The Crown Prince of Abu Dhabi and Deputy Supreme Commander of UAE Mohammed Bin Zayed Al Nahyan met Turkish President Erdogan yesterday. The diplomatic visit of the de facto ruler of Abu Dhabi comes during a critical juncture of Turkey and the region. Moreover, Abu Dhabi’s assistance to Turkey will help Ankara deal with the currency crisis baffling its economy. The Head of States met at the Presidential palace located in Ankara.

Investment as first priority in mending ties

President Erdogan welcomed the accompanying delegation of Sheikh Mohamed bin Zayed. The UAE delegation includes the National Security Adviser as well as the Deputy Prime Minister and Minister of Presidential Affairs. Chairman of the Abu Dhabi Airports and Board of Directors, Abu Dhabi Ports and, Abu Dhabi Securities Exchange. Both countries also signed agreements regarding energy and technology investment.

The Abu Dhabi Development Holding (ADQ) and Turkish Wealth Fund (TVF) signed the ‘Memorandum of Understanding’ at the Turkish Presidency Investment Office. The Emirati investment definitely aims at stabilizing the Turkish Economy. It should be noted that a $10 billion investment will tremendously strengthen the Turkish Lira amidst the currency crisis. The Turkish markets welcomed UAE prospects in fintech, defense production capabilities, and healthcare.

Furthermore, the Minister of Energy and Infrastructure, the Minister of Industry & Advanced Technology, and the Minister of Climate Change & Environment were present. In addition, the Deputy Secretary-General of the Supreme National Security Council, Chairman of the Abu Dhabi Department of Finance & Member of the Executive Council, and Advisor at the Ministry of Presidential Affairs also accompanied the delegation. Apart from this, other members of the UAE official delegation were also from Abu Dhabi Court, UAE Financial Intelligence Unit, and UAE Embassy in Turkey.

A positive shift in diplomatic relations

The visit of the UAE Crown Prince comes after 9-year hiatus which is also the first high-level visit since 2012. The presenting of the guard of honor, offering of 21 gun-fire salutes, and playing of national anthems welcomed the UAE delegation. The visit serves as an ice-breaker for the region as it will enable to put an end to an anarchic situation in the region. Recently, UAE also mended relations with the Assad regime in Syria. The deals will end proxy conflicts and neutralize destabilization. Turkey is also patching up ties with other Middle Eastern countries.

The recent diplomatic visits spell a positive trajectory for the conflict-stricken regions. Crown Prince of Abu Dhabi is at the forefront of foreign policy posture and UAE’s external relations shift. The repair in relations will indeed boost economic cooperation. Economic diplomacy will also be the focus of foreign policy as the Middle East seeks to overcome conflict and economic crisis. Turkey’s Central Bank Governor will also meet the UAE delegation for an agreement focusing on expanding Turkish foreign currency reserves.