Turkish President Recep Tayyip Erdogan travels to Saudi Arabia on Monday in a three-stop tour of Gulf states to seek trade and investment opportunities for Turkey's floundering economy.
The president will arrive in Jeddah accompanied by an entourage of some 200 businesspeople, according to the Foreign Economic Relations Board of Turkey. He is expected to meet King Salman and Crown Prince Mohammed bin Salman. Business forums have been arranged in Saudi Arabia, Qatar and the United Arab Emirates during Erdogan’s three-day trip.
Turkey’s current account deficit reached record levels this year – $37.7 billion in the first five months - and Erdogan is hoping the oil- and gas-rich Gulf states will help plug the gap. Ankara has recently repaired ties with Saudi Arabia and the UAE following a decade-long rift. The split arose following the 2011 Arab Spring and Turkey’s support for the Muslim Brotherhood, considered a threat by some Gulf monarchies.
Erdogan visited both Saudi Crown Prince Mohammed - the country’s de-facto ruler - and UAE President Mohammed bin Zayed Al Nahyan last year, while the latter came to Istanbul for soccer’s Champions League final a month ago.
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