Turkey signs cooperation agreements in the fintech sector with Gulf countries
Turkey has boosted its fintech collaboration with Gulf countries through signed agreements during visits to the UAE, Saudi Arabia and Qatar, aiming to strengthen bilateral relations and establish itself as a fintech hub.
In these visits to Saudi Arabia, Qatar, and the UAE, Turkey signed 18 agreements and a joint declaration covering various areas, including investment, industry, healthcare, renewable energy, and the space industry. Private sector representatives assessed Gulf countries’ investment and cooperation opportunities. Contacts were also established in the fintech sector. Erkan Kork, Chairman of PayFix, stated, “Turkey has a goal of becoming a fintech hub. Just like in many other sectors, Turkey can also become a hub for Gulf countries in the fintech field.”
Erdoğan’s Gulf tour enhances trade and investment cooperation. Over 200 Turkish business delegates attended meetings in Abu Dhabi, Jeddah, and Doha, coinciding with Turkey’s currency attraction efforts and Gulf countries investment diversification goals.
$50.7 billion agreement between Türkiye and UAE
During Erdogan’s visit, which encompassed Saudi Arabia, Qatar, and the UAE, agreements and a joint declaration were signed in various fields, including investment, industry, defense, healthcare, renewable energy, and the space industry, totaling 18 agreements. The most remarkable one was the $50.7 billion agreement signed between Turkey and the United Arab Emirates during President Erdogan’s meeting with UAE’s President, Sheikh Mohammed Bin Zayed Al Nahyan.
Turkey could become a Fintech Hub in Gulf
Important representatives of the business community also welcomed Erdogan’s Gulf visit with satisfaction. Erkan Kork, Chairman of PayFix, stated that with the visit of President Recep Tayyip Erdoğan, a prime period has been experienced in relations with the UAE, Saudi Arabia and Qatar. He said, “We had significant discussions in the fintech sector. There is a strong desire to invest in Turkey. During this process, our Investment Office President, Burak Dağlıoğlu, is making tremendous efforts to attract investments to Turkey, and we are grateful to them. We had crucial discussions in the financial technology sector. Turkey is truly a land of opportunities. As our President mentioned, Turkey aims to become a fintech hub. Turkey can potentially be a hub for Gulf countries in the fintech field, just like it’s in many other sectors.”