The expected money from Erdogan’s Gulf expedition became clear

Following President Tayyip Erdogan’s planned trip to Saudi Arabia, Qatar and the United Arab Emirates (UAE) in mid-July, approximately $10 billion of direct investment is expected to flow into Turkey from the Arab countries bordering the Persian Gulf. .

Erdogan will meet the leaders of Saudi Arabia, Qatar and the United Arab Emirates during their visits from July 17 to 19.

Within the scope of the talks, the transfer of external resources to the weakened economy before the May elections will also be discussed.

‘THE LONG TERM EXPECTATION OF FINDING 30 BILLION DOLLARS’

Two senior officials, who did not want their names revealed because the negotiations have not yet been concluded, said with a broader perspective that they expect these countries to invest up to $30 billion in Turkey’s energy, infrastructure and defense sectors.

A senior official said: “It is essential that a third of this amount is received in a short time… There is great expectation for the visit to the Gulf countries. Some important agreements will be signed here, ”he said.

The Presidency did not respond to questions in this regard. Authorities in Riyadh, Doha and Abu Dhabi could not be reached at the time of the news.

The official said that since these investments will be direct investments, “it is extremely important for us as an indicator of confidence in the economy.” (Reuters)