Turkey | $ 10 billion investment agreement with the UAE

Defence Redefined

Published on 25/11/2021 at 16:15

The “kiss of life” has been given by Abu Dhabi to the collapsing Turkish economy, thus restoring Turkey’s relations with the UAE, which have also concluded a mutual military assistance agreement with Greece.

The Turkish economy has received a $ 10 billion boost at a time of disarray and the government of Tayyip Erdogan is facing unprecedented social discontent. The Turkish lira devaluation rally is pushing the Turkish economy to the brink of collapse. This ‘lifeboat’ does not derive from Qatar this time but from the United Arab Emirates!

The two countries signed nine memoranda of understanding and cooperation between state investment funds and their banks, with the Minister of Industry of Abu Dhabi stating that we are witnessing “a new era” in respect of the relations between the two countries.

Erdogan received in Ankara the Crown Prince of the United Arab Emirates, Sheikh Mohammed bin Zayed Al Nahyan. This is an extremely important and unexpected move that changes the balance on the geopolitical chessboard, as the Emirates stood up until now against Erdogan.

In particular, Ankara and the Emirates have been in open conflict in various fields and key issues for years. Their relationship took this Cold War-like turn after the outbreak of the Arab Spring and Turkish support to the Muslim Brotherhood. Abu Dhabi did not hide its dissatisfaction, responding with disparaging reports about the period of the Ottoman Empire. The visit of the Prince of the Emirates marks the end of this era and the dawn of a new one.

The fact that the Turkish government was forced to “fall to its knees” and beg the United Arab Emirates for help is good because the Erdogan government appears to be… begging the Greek friend and ally for help in order to avoid financial disaster, commented a diplomatic source in the Greek Ministry of Foreign Affairs.

Source: Proto Thema

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