ISTANBUL, July 26, 2023 /PRNewswire/ -- Turkey boosts fintech collaboration with Gulf countries through agreements signed during visits to Saudi Arabia, Qatar and the United Arab Emirates, aiming to strengthen bilateral relations and establish itself as a fintech hub.
In these visits to Saudi Arabia, Qatar and the United Arab Emirates, Turkey signed 18 agreements and a joint declaration covering various areas including investment, industry, healthcare, renewable energy and the space industry. Private sector representatives evaluated the investment and cooperation opportunities of the Gulf countries. Contacts were also established in the fintech sector. Erkan Kork, Chairman of PayFix, stated: "Turkey has the goal of becoming a fintech hub. As in many other sectors, Turkey can also become a hub for the Gulf countries in the fintech field."
Erdoğan's Gulf tour enhances trade and investment cooperation. More than 200 Turkish business delegates attended meetings in Abu Dhabi, Jeddah and Doha, coinciding with Turkey's foreign exchange efforts and Gulf countries' investment diversification goals.
$50.7 billion deal between Türkiye and UAE
During Erdogan's visit, which spanned Saudi Arabia, Qatar and the United Arab Emirates, agreements and a joint declaration were signed in various fields, including investment, industry, defense, health, renewable energy and the space industry, for a total of 18 agreements. . Most prominent was the $50.7 billion deal signed between Turkey and the United Arab Emirates during President Erdogan's meeting with UAE President Sheikh Mohammed Bin Zayed Al Nahyan.
Türkiye could become a fintech hub in the Gulf
Leading representatives of the business community also welcomed Erdogan's visit to the Gulf. Erkan Kork, president of PayFix, affirmed that with the visit of President Recep Tayyip Erdoğan there is a privileged moment in relations with Saudi Arabia, Qatar and the United Arab Emirates. He said: "We had important discussions in the financial technology sector. There is a strong desire to invest in Turkey. During this process, the president of our Investment Office, Burak Dağlıoğlu, is making tremendous efforts to attract investment to Turkey, and we are grateful. We had crucial discussions in the fintech sector. Turkey is truly a land of opportunity. As our president mentioned, Turkey aims to become a hub of fintech. Turkey can potentially be a hub for the Gulf countries in the fintech field, as in many other sectors.
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