Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed Al Nahyan paid an official visit to Turkey on November 24 upon the invitation of President Recep Tayyip Erdoğan. A series of significant investment agreements and MoUs that will enhance cooperation in the fields of trade, energy and environment were signed between the two countries.
The list of agreements signed between the United Arab Emirates’ sovereign investment fund ADQ and the Turkey Wealth Fund (TWF) includes a general cooperation agreement, an MoU to establish a “Technology-driven Venture Capital Fund” to invest in Turkish tech companies, and a cooperation agreement related to Abu Dhabi Ports’ port and logistics investments in Turkey. Meanwhile, a cooperation agreement was also inked between the Abu Dhabi Stock Exchange—also owned by ADQ—and TWF’s Borsa Istanbul.
In addition, ADQ signed a strategic cooperation agreement with the Investment Office, entailing a direct investments and cooperation with Turkey in the fields of petrochemicals, technology, transportation, infrastructure, healthcare, financial services, agrofood, and energy, including the existing and new projects for renewables of up to 3 GW in Turkey.
ADQ also inked a cooperation agreement with Kalyon Holding in the fields of energy, infrastructure and transportation, and another agreement with CCN Group in the healthcare sector.
UAE’s Minister of Industry and Advanced Technology Sultan bin Ahmed Al Jaber previously stated that they intended to enhance cooperation with Turkey in the fields of energy, healthcare, agriculture, logistics and transportation, infrastructure, finance, tourism as well as climate change, energy, water and food security.