Turkey’s President Recep Tayyip Erdogan will visit Saudi Arabia and the United Arab Emirates this week as he looks to attract foreign investment into Turkey.
Erdogan, who won re-election this year after a run-off, will hope to win interest and commitments from wealthy Gulf countries to invest into Turkey, which has seen its economy battered by high inflation and other significant challenges.
Since his re-election, Erdogan has made adjustments to some economic policies “in a bid to end a cost-of-living crisis and looked to improve relations” with the Arab World, Bloomberg reports.
Turkey is trying to attract $25 billion in investments from Gulf countries, Turkish officials familiar with the matter have previously said. Erdogan will be accompanied by more than 100 businessmen looking to secure cooperation deals, according to the Trade Ministry.
