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by Reuters and Algemeiner Staff
Turkish President Tayyip Erdogan speaks during a news conference in Kyiv, Ukraine, Feb. 3, 2022. Photo: Reuters/Valentyn Ogirenko/File Photo
Turkey’s vice president and finance minister will travel to Qatar on Saturday to discuss “economic cooperation opportunities” with leaders there ahead of President Tayyip Erdogan’s planned trip to the Gulf on July 17-19, Ankara said.
Vice President Cevdet Yilmaz and Treasury and Finance Minister Mehmet Simsek will meet Qatar’s Emir Sheikh Tamim bin Hamad al-Thani as well as delegations at the weekend to discuss economic ties and strengthen relations, the government said.
Reuters reported on Friday Turkey expects Qatar, Saudi Arabia and the United Arab Emirates to make direct investments of some $10 billion initially, and $30 billion in total, in its energy, infrastructure and defense sectors on the heels of Erdogan’s visit to the three countries.
Since 2021, when Turkey launched a diplomatic effort to repair ties with Saudi Arabia and the UAE, investments and funding from the Gulf have helped relieve pressure on Turkey’s economy and hard currency buffer.
