Egyptian President Abdel Fattah El Sisi (left) shakes hands with Turkish President Recep Tayyip Erdogan after a signing ceremony in Ankara on Wednesday. Reuters
Egyptian President Abdel Fattah El Sisi (left) shakes hands with Turkish President Recep Tayyip Erdogan after a signing ceremony in Ankara on Wednesday. Reuters
Egyptian President Abdel Fattah El Sisi (left) shakes hands with Turkish President Recep Tayyip Erdogan after a signing ceremony in Ankara on Wednesday. Reuters
Egyptian President Abdel Fattah El Sisi (left) shakes hands with Turkish President Recep Tayyip Erdogan after a signing ceremony in Ankara on Wednesday. Reuters

Turkey and Egypt look for new partnerships in El Sisi's first visit to Ankara


Lizzie Porter
  • English
  • Arabic

Turkey's President Recep Tayyip Erdogan received Egypt's President Abdel Fattah El Sisi in Ankara on Wednesday for their second round of talks in the past six months, five years after swearing that he would “never” meet Mr El Sisi.

“I would first like to express my pleasure in hosting the President of Egypt, Mr Abdel Fattah El Sisi, in our country,” said Mr Erdogan in a joint press conference with the Egyptian President on Wednesday evening, his tone reflecting the change in Egypt-Turkey relations.

The half-day visit was Mr El Sisi’s first trip to Turkey as President, as Cairo and Ankara continue to repair diplomatic ties bruised by more than a decade of political and ideological disputes.

The two leaders held one-on-one talks at the presidential complex in Ankara before chairing the first meeting of the Turkey-Egypt strategic co-operation council, a body that was restructured following Mr Erdogan's Cairo trip earlier this year.

“I underline that after my first visit to Turkey, we are establishing a new phase of co-operation between the two countries,” Mr El Sisi said. Ministers from the two countries signed about 20 preliminary, non-binding agreements in fields including energy, defence, agriculture, tourism, environment and climate change, and construction.

A 36-point joint declaration published after the meeting pledged closer collaboration on issues from health and education to counter terrorism and calling for a ceasefire in Gaza.

Commerce and investment were among the most important agenda items during the visit, the leaders said at the joint press conference.

“Our discussions took into account the importance of facilitating transport and enhancing free trade between the two countries to increase commercial exchange to $15 billion in the coming years, in addition to enhancing investment between two countries and granting facilitations for Turkish businessmen,” said Mr El Sisi.

Despite the diplomatic hostility, trade between the two countries has risen steadily in the past decade. Turkey has been seeking to expand foreign trade as its domestic economy suffered, with growth sluggish and inflation currently running at more than 50 per cent.

Turkey-Egypt trade topped $4.9 billion in the first seven months of 2024, according to The National’s calculations, based on Turkish Statistical Institute data.

Egyptian President Abdel Fattah El Sisi, left, was received by Turkey's President Recep Tayyip Erdogan at the Esenboga Airport in Ankara. Turkish Presidential Press Office / EPA
Egyptian President Abdel Fattah El Sisi, left, was received by Turkey's President Recep Tayyip Erdogan at the Esenboga Airport in Ankara. Turkish Presidential Press Office / EPA

Items traditionally traded include plastics, electronics and minerals, and Turkey is also looking for new markets for its military hardware, including drones, which are used in African countries from Mali to Ethiopia.

Turkish Foreign Minister Hakan Fidan said earlier this year that Ankara was willing to provide Egypt with its military drones, which are already owned by governments including Ethiopia, Ukraine and Azerbaijan. It is unclear if any drone sales contracts were concluded on Wednesday.

Relations soured between the two countries in 2013, after the military overthrow of former Egyptian president Mohammed Morsi, who Mr Erdogan supported. The two countries downgraded diplomatic ties and relations deteriorated.

Egypt was angered by Turkey providing refuge to exiled Muslim Brotherhood members, and the two countries supported opposing sides in the Libyan conflict. Egypt has taken umbrage at Turkey’s significant backing of Ethiopia, especially in the construction of a major dam project on the Nile which threatens Egypts water supply.

But in recent months the two governments have taken steps to improve ties, spurred on by the need to find sources of stability and build political and economic alliances in a region facing multiple protracted crises.

“After a 12-year hiatus, no significant tensions are expected to emerge at this stage of normalisation and developing relations,” Tunc Demirtas, a foreign policy researcher at pro-Turkish government think tank Seta, told The National. “Given the many regional challenges, it is likely that Turkey and Egypt will act rationally on points where their interests align across various issues.”

Some analysts say that the two countries’ similar positions on the war in Gaza have accelerated the normalisation.

“Rapprochement between them was accelerated after the war in Gaza,” said Elem Eyrice Tepeciklioglu, an associate professor at the Department of African Studies at the Social Sciences University of Ankara. “They all want to end the war. They all want an independent Palestinian state. They all want to perhaps be the mediator or accelerate the peace process, because Turkey would like to play the role of a mediator in different contexts. And Egypt is directly involved.”

The normalisation with Egypt is part of wider attempts by Turkey to repair relationships with countries with which Ankara has not always seen eye to eye.

“We have realised that we have similar targets and similar stances pertaining to many regional matters, and we have come to terms with Egypt to boost our correspondences,” Mr Erdogan said in the press conference with Mr El Sisi. “Hopefully from now on, we will be in closer co-operation with Egypt … Hopefully we will boost our bilateral relations.”

The exact contours of future co-operation and agreements remain unclear.

“When you ask the Turks, they say, like the rapprochement process is going great. When you ask the Egyptians, they are less enthusiastic, but they say, it's going – it's better than it was before, but there's still some sticking points,” said Dareen Khalifa, a senior adviser at the International Crisis Group think tank. “So there is a gap between how both countries see the positive steps taken so far.”

In Libya, Egypt supports Field Marshal Khalifa Haftar in the country’s east, and Turkey intervened on the side of the UN-recognised government in Tripoli in 2020. Egypt has consistently said it wants foreign troops – including Turkish troops posted in the North African country – to leave, although Turkey has made no commitment to that effect.

“We agreed to increase consultations to achieve security and political stability in Libya,” said Mr El Sisi. “We assure the end of the crisis in Libya by holding the legitimate parliamentary elections and ending the presence of armed militias and foreign forces in Libya – then divisions will come to an end and stability will be established.”

But ultimately, a resolution would allow both to invest in the country and minimise the national security concerns it presents, analysts said.

“The stability, both economic and political stability, in Libya, is in the interest of both countries,” said Ms Eyrice Tepeciklioglu.

Mr El Sisi also said he welcomed recent moves by Mr Erdogan to repair ties with the Bashar Al Assad government in Syria. The Turkish leader said in July that he would be willing to invite Mr Al Assad to Turkey, following a severing of diplomatic ties in 2012 over the Syrian civil war. Last month Mr Al Assad said that there had been no concrete progress in normalising relations with its neighbour.

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Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

Key developments in maritime dispute

2000: Israel withdraws from Lebanon after nearly 30 years without an officially demarcated border. The UN establishes the Blue Line to act as the frontier. 

2007: Lebanon and Cyprus define their respective exclusive economic zones to facilitate oil and gas exploration. Israel uses this to define its EEZ with Cyprus

2011: Lebanon disputes Israeli-proposed line and submits documents to UN showing different EEZ. Cyprus offers to mediate without much progress.

2018: Lebanon signs first offshore oil and gas licencing deal with consortium of France’s Total, Italy’s Eni and Russia’s Novatek.

2018-2019: US seeks to mediate between Israel and Lebanon to prevent clashes over oil and gas resources.

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Favourite hobbies: Art and horseback ridding

Occupation: Communication specialist at a government agency and the owner of Atelier

Favourite cuisine: Definitely Emirati - harees is my favourite dish

In Full Flight: A Story of Africa and Atonement
John Heminway, Knopff

Farage on Muslim Brotherhood

Nigel Farage told Reform's annual conference that the party will proscribe the Muslim Brotherhood if he becomes Prime Minister.
"We will stop dangerous organisations with links to terrorism operating in our country," he said. "Quite why we've been so gutless about this – both Labour and Conservative – I don't know.
“All across the Middle East, countries have banned and proscribed the Muslim Brotherhood as a dangerous organisation. We will do the very same.”
It is 10 years since a ground-breaking report into the Muslim Brotherhood by Sir John Jenkins.
Among the former diplomat's findings was an assessment that “the use of extreme violence in the pursuit of the perfect Islamic society” has “never been institutionally disowned” by the movement.
The prime minister at the time, David Cameron, who commissioned the report, said membership or association with the Muslim Brotherhood was a "possible indicator of extremism" but it would not be banned.

UAE currency: the story behind the money in your pockets
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Three ways to limit your social media use

Clinical psychologist, Dr Saliha Afridi at The Lighthouse Arabia suggests three easy things you can do every day to cut back on the time you spend online.

1. Put the social media app in a folder on the second or third screen of your phone so it has to remain a conscious decision to open, rather than something your fingers gravitate towards without consideration.

2. Schedule a time to use social media instead of consistently throughout the day. I recommend setting aside certain times of the day or week when you upload pictures or share information. 

3. Take a mental snapshot rather than a photo on your phone. Instead of sharing it with your social world, try to absorb the moment, connect with your feeling, experience the moment with all five of your senses. You will have a memory of that moment more vividly and for far longer than if you take a picture of it.

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Museum of the Future in numbers
  •  78 metres is the height of the museum
  •  30,000 square metres is its total area
  •  17,000 square metres is the length of the stainless steel facade
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To successfully install ToTok, users are asked to enter their phone number and then create a nickname.

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Users can also invite other contacts to download ToTok to allow them to make contact through the app.

 

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UAE squad

Esha Oza (captain), Al Maseera Jahangir, Emily Thomas, Heena Hotchandani, Indhuja Nandakumar, Katie Thompson, Lavanya Keny, Mehak Thakur, Michelle Botha, Rinitha Rajith, Samaira Dharnidharka, Siya Gokhale, Sashikala Silva, Suraksha Kotte, Theertha Satish (wicketkeeper) Udeni Kuruppuarachchige, Vaishnave Mahesh.

UAE tour of Zimbabwe

All matches in Bulawayo
Friday, Sept 26 – First ODI
Sunday, Sept 28 – Second ODI
Tuesday, Sept 30 – Third ODI
Thursday, Oct 2 – Fourth ODI
Sunday, Oct 5 – First T20I
Monday, Oct 6 – Second T20I

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Russia's Muslim Heartlands

Dominic Rubin, Oxford

Our family matters legal consultant

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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  • Specialist robotics and science laboratories
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UAE players with central contracts

Rohan Mustafa, Ashfaq Ahmed, Chirag Suri, Rameez Shahzad, Shaiman Anwar, Adnan Mufti, Mohammed Usman, Ghulam Shabbir, Ahmed Raza, Qadeer Ahmed, Amir Hayat, Mohammed Naveed and Imran Haider.

Updated: September 04, 2024, 5:09 PM