Türkiye to supply drones to Saudi Arabia
RIYADH, Saudi Arabia – Türkiye got one of the lucrative contracts to supply its famed drones to Saudi Arabia.
Both countries signed several memorandums of understanding in many fields, including energy, direct investment and defense industries during the visit of President Recep Tayyip Erdogan to Saudi Arabia.
As reported by Saudi state news agency SPA, Erdogan and Saudi Crown Prince Mohammed bin Salman attended the signing ceremony between Turkish defense company Baykar and the Saudi Defense Ministry.
The visit is expected to revive the Turkish economy, which recorded a current account deficit of $37.7 billion in the first five months of 2023.
Qatar and the United Arab Emirates have recently provided Turkey with about $20 billion under currency swap agreements, while Saudi Arabia deposited $5 billion with Turkey’s central bank in March.
Erdogan arrived in Saudi Arabia on Monday. He then traveled to Qatar on Tuesday, where he met with Emir Tamim bin Hamad Al Thani.
Erdogan’s final stop was the UAE, where he met with President Mohammed bin Zayed Al Nahyan on Wednesday.
The visit was seen as an attempt to mend ties with the Gulf countries after a period of strained relations.
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