UAE companies announce agreements worth over USD 50bln in the Republic of Türkiye’s

UAE companies announce agreements worth over USD 50bln in the Republic of Türkiye’s

Abu Dhabi, UAE : President His Highness Sheikh Mohamed bin Zayed Al Nahyan and Turkish President Recep Tayyip Erdogan today witnessed the signings of several strategic agreements and MOUs worth a total of USD 50.7 billion to further cement ties between the two nations. The agreements and MOUs included the following: The UAE Ministry of Investment and the Ministry of Energy and Natural Resource of Türkiye signed a strategic partnership agreement outlining UAE plans to make large-scale investments covering the full spectrum of the Republic of Türkiye’s ambitious national energy transition strategy and spearheaded by UAE national champions and sector leaders in each nation. Investments include projects in renewable energy, green hydrogen and ammonia, hydropower plants, transmission projects, battery storage, nuclear energy cooperation and emerging technologies, including hydrogen and carbon capture utiliziation and storage. A strategic cooperation agreement between the Abu Dhabi National Oil Company (ADNOC) and the Turkish Petroleum Corporation to explore upstream and petrochemical projects. A Memorandum of Understanding on strategic cooperation in the field of defence industries between the UAE Tawazun Council and the Turkish Defence Industries Agency. A Memorandum of Understanding on the development of joint launch vehicle capabilities for commercial purposes between the UAE Space