Turkiye expects $10bn in Gulf investments after upcoming Erdogan visit, sources say
Turkiye expects Gulf countries to make direct investments of about $10 billion initially in domestic assets as part of President Tayyip Erdogan's trip to the region in two weeks, according to two senior Turkish officials, Reuters reports
Erin
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According to the report, Erdogan is scheduled to visit leaders in Saudi Arabia, Qatar and the United Arab Emirates on 17-19 July, in part to drum up foreign funding that would boost Turkiye's strained economy after his re-election in May.
The sources, who spoke on condition of anonymity given the talks are private and deals are not yet finalised, said overall investments of up to $30 billion are expected over a longer period in Turkiye's energy, infrastructure and defence sectors, the report added.
Direct investments worth about $10 billion "should come within a short time and this is crucial," said one of the officials. "Expectations are high for the Gulf visit. Some important agreements will be signed."
Source: Middle East Monitor under CC BY-NC-SA 4.0
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