Can Dizdar, Turkish ambassador to the UAE, spoke to The National ahead of President Recep Tayyip Erdogan's visits to Saudi Arabia, Qatar and Kuwait from Sunday. Responses have been edited for length and clarity.
Q: Do you think Turkey can succeed where the US secretary of state, the European foreign ministers have so far not been able to find a breakthrough? What role can Turkey play diplomatically? Does it have some advantages that these other countries don’t have?
Look, our approach and position is rather different than the other countries. As you know, President Erdogan was in the region in the first half of this year, visited these three countries before the start of this thing. Our relations and contacts with these countries are very close. When the crisis broke out we were surprised and said ‘look, this was unnecessary. We could have solved these issues through dialogue, and escalation serves the interest of nobody.’ And this is still where we stand. And this has been the message given to everybody.
The current situation serves the interests of nobody, and I believe the president will convey this message again to all the parties: that everybody can benefit from dialogue and not from escalation. And if there are issues, of course we need to address them head on, but collectively and in a sober way.
Are you hopeful about the role Saudi Arabia can play in finding a solution?
I think everybody knows that Saudi Arabia is the major power in the region. And of course the weight of Saudi's position on this is important, and that’s why president Erdogan expressed that we are looking to the Saudi leadership and their wisdom and experience in bringing this issue to normalcy.
Do you think the president has a particular message that he’ll be taking to King Salman and the Saudi crown prince?
Again, going back to normalcy will serve the interests of everybody. This region used to be known by its predictability and stability, and that’s why business circles were very much interested in the region, attracted by the countries here, and there is no need to make them nervous, particularly at a time when we need economic growth and to diversify the economies here.
Ankara has continued to send small numbers of forces and materiel to the new permanent base in Qatar. Officials here and in Saudi are not happy about that. They view it as a military intervention of sorts. What is your response to that?
Our military presence in Qatar is not even a topic for discussion. It is a bilateral agreement between two sovereign countries. Look, Turkey has the second-largest armed forces in Nato. There are countries who have their bases here and there - Nato countries, even some non-Nato countries, have their military bases in the region. So actually we are perplexed by these kind of words and this reaction because we don’t understand the motive. Our presence does not constitute any threat to any country. The Qataris invited us, we did not impose anything on any country, and it is not the only military base we have in the world.
But was the timing meant to send a message?
The timing is 2014. That’s when we had this agreement. And since 2014 we were negotiating the implementation of this agreement. It happens to be coinciding with these two events. It wasn’t planned. It had to be passed from the parliament before the summer session, and it was June, and that was on the agenda of the parliament anyway. It did not change anything from the 2014 agreement, and it will not change anything.
If the dispute is not resolved quickly, is there a danger of Qatar and Turkey and Iran growing closer, either tactically over the short term or over the longer term?
I see such speculations here and there. But nobody should give credit to those thoughts. Because we are a country of the region, we are a member of Nato, Turkey is a global country and we are not known by being a part of certain axes, an axis of three countries, four countries, no. We have been working with Saudi Arabia, UAE and other countries on several files together and we have very close co-operation and it will continue. Whereas Iran happens to be a centuries-long neighbour with Turkey and we have a kind of modus vivendi with them. It’s no secret that we don’t agree on everything, but you need to have a kind of good neighbourly relations with Iran.
It seems likely that this crisis in the Gulf will continue to simmer, maybe without further escalation, for a longer term. If that happens how does Turkey safeguard its interests, especially on the economic side, which we talked about as being the backbone of strengthening the Turkey-Saudi-UAE relationship?
As I said, Turkey is a global country, with a GDP close to one trillion dollars, 16th-largest economy in the world. And if you look at the Istanbul stock exchange index, it increased by 40 per cent since January … and Turkey’s economy grew by five percent in the first quarter and is predicted to grow by 6, 7 per cent by the end of this year. So we have plenty of interests around the world and the Gulf countries could benefit actually from better economic relations with Turkey because economic opportunities are abundant in Turkey.
Have you seen economic fallout here in the UAE over the course of this crisis?
Our trade volume is over 10 billion dollars and our investment in the UAE is as big as the UAE investment in Turkey. There are 300,000 Turkish tourists yearly visiting the UAE. However if we had a better political climate these numbers could double immediately because there is a huge interest in tourism, in investment. Turkish entrepreneurs are exploring opportunities but they are expecting better working conditions for them, and they are discouraged by certain practices here against Turkish citizens, Turkish companies. If they are offered the same kind of a practice as expatriates at foreign companies I think you can see a big increase in Turkish capital coming into the UAE, huge increase in Turkish investments in the UAE, particularly in the manufacturing sector.
What are the kinds of impediments?
Trade licence issues, working permits … these things are discouraging potential Turkish investors.
I was reading an article by a Turkish journalist who framed Turkey’s choice in the Gulf crisis as ‘win Qatar, lose the Gulf’. Is that the case?
Look, it is not a zero-sum game. It doesn’t mean that winning Qatar means losing the Gulf. We don’t have such a policy or expect such an outcome. Again, that would be detrimental also for the countries in the Gulf, be it Qatar, be it UAE or Saudi Arabia. We are not in a position to pick a side. Our relations with Qatar are very well known and it is very close but it does not mean we have closed the door to UAE and other countries. We extend our hand to everybody, and that’s our objective to improve our relations with UAE and Saudi Arabia.
In terms of what is the best way for Doha to engage with these demands by the other Gulf countries, do you encourage negotiations on certain points in particular? Do you feel like any of the demands are something that Doha should consider negotiating on?
That’s the decision to be made by Doha. We are not in a position to say ‘look do this, do that’. However, if there are issues to be addressed, these issues must be addressed. But this issue of financing terrorism is not an issue peculiar to Qatar. Even if it’s not the governments, there are certain persons and institutes indicated here and there, the United States issued a report about that [last week], so there is a common ground for all the countries to improve things on that front. And of course we are ready to contribute because of course terrorism is one big scourge that Turkey has been dealing with more than any country.
At the broadest level, people have said that the underlying issue that has led consistently to tensions between Qatar and these three neighbours in the GCC are two competing visions for the future of the Arab region. What is Turkey’s perspective?
We are interested in the stability of the region — stability and predictability. I think that’s where everybody puts their emphasis. And this issue is something that’s up to the countries of the region, and I believe these countries should meet a certain middle point. Because I don’t think one side will be accepting the other side’s view. If there is a conflicting view you negotiate and reach a compromise. That’s what needs to be done.
Is there any last point you’d like to make?
I want to finish this on a positive note. I think things are on track for de-escalation. I think that’s to the benefit of every country. The sooner we have this over the better for everybody, for political terms, for economic terms and that’s where Turkey’s interest is.
India squads
Test squad against Afghanistan: Rahane (c), Dhawan, Vijay, Rahul, Pujara, Karun, Saha, Ashwin, Jadeja, Kuldeep, Umesh, Shami, Pandya, Ishant, Thakur.
T20 squad against Ireland and England: Kohli (c), Dhawan, Rohit, Rahul, Raina, Pandey, Dhoni, Karthik, Chahal, Kuldeep, Sundar, Bhuvneshwar, Bumrah, Pandya, Kaul, Umesh.
ODI squad against England: Kohli (c), Dhawan, Rohit, Rahul, Shreyas, Rayudu, Dhoni, Karthik, Chahal, Kuldeep, Sundar, Bhuvneshwar, Bumrah, Pandya, Kaul, Umesh
RESULTS
Mumbai Indians 181-4 (20 ovs)
Kolkata Knight Riders 168-6 (20ovs)
Mumbai won by 13 runs
Rajasthan Royals 152-9 (20 ovs)
Kings XI Punjab 155-4 (18.4 ovs)
Kings XI Punjab won by 6 wickets
World Series
Game 1: Red Sox 8, Dodgers 4
Game 2: Red Sox 4, Dodgers 2
Game 3: Saturday (UAE)
* if needed
Game 4: Sunday
Game 5: Monday
Game 6: Wednesday
Game 7: Thursday
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now
Manchester United v Liverpool
Premier League, kick off 7.30pm (UAE)
The biog
Favourite food: Tabbouleh, greek salad and sushi
Favourite TV show: That 70s Show
Favourite animal: Ferrets, they are smart, sensitive, playful and loving
Favourite holiday destination: Seychelles, my resolution for 2020 is to visit as many spiritual retreats and animal shelters across the world as I can
Name of first pet: Eddy, a Persian cat that showed up at our home
Favourite dog breed: I love them all - if I had to pick Yorkshire terrier for small dogs and St Bernard's for big
VERSTAPPEN'S FIRSTS
Youngest F1 driver (17 years 3 days Japan 2014)
Youngest driver to start an F1 race (17 years 166 days – Australia 2015)
Youngest F1 driver to score points (17 years 180 days - Malaysia 2015)
Youngest driver to lead an F1 race (18 years 228 days – Spain 2016)
Youngest driver to set an F1 fastest lap (19 years 44 days – Brazil 2016)
Youngest on F1 podium finish (18 years 228 days – Spain 2016)
Youngest F1 winner (18 years 228 days – Spain 2016)
Youngest multiple F1 race winner (Mexico 2017/18)
Youngest F1 driver to win the same race (Mexico 2017/18)
Company%C2%A0profile
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Five expert hiking tips
- Always check the weather forecast before setting off
- Make sure you have plenty of water
- Set off early to avoid sudden weather changes in the afternoon
- Wear appropriate clothing and footwear
- Take your litter home with you
MATCH INFO
FA Cup final
Chelsea 1
Hazard (22' pen)
Manchester United 0
Man of the match: Eden Hazard (Chelsea)
The%20specs%20
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2.0-litre%204cyl%20turbo%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E261hp%20at%205%2C500rpm%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E400Nm%20at%201%2C750-4%2C000rpm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E7-speed%20dual-clutch%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%20%3C%2Fstrong%3E10.5L%2F100km%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh129%2C999%20(VX%20Luxury)%3B%20from%20Dh149%2C999%20(VX%20Black%20Gold)%3C%2Fp%3E%0A
'The Batman'
Stars:Robert Pattinson
Director:Matt Reeves
Rating: 5/5
CHELSEA SQUAD
Arrizabalaga, Bettinelli, Rudiger, Christensen, Silva, Chalobah, Sarr, Azpilicueta, James, Kenedy, Alonso, Jorginho, Kante, Kovacic, Saul, Barkley, Ziyech, Pulisic, Mount, Hudson-Odoi, Werner, Havertz, Lukaku.
VEZEETA PROFILE
Date started: 2012
Founder: Amir Barsoum
Based: Dubai, UAE
Sector: HealthTech / MedTech
Size: 300 employees
Funding: $22.6 million (as of September 2018)
Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC
More from Rashmee Roshan Lall
Overview
Cricket World Cup League Two: Nepal, Oman, United States tri-series, Tribhuvan University, Kathmandu
Fixtures
Wednesday February 5, Oman v Nepal
Thursday, February 6, Oman v United States
Saturday, February 8, United States v Nepal
Sunday, February 9, Oman v Nepal
Tuesday, February 11, Oman v United States
Wednesday, February 12, United States v Nepal
FIXTURES
Thursday
Dibba v Al Dhafra, Fujairah Stadium (5pm)
Al Wahda v Hatta, Al Nahyan Stadium (8pm)
Friday
Al Nasr v Ajman, Zabeel Stadium (5pm)
Al Jazria v Al Wasl, Mohammed Bin Zayed Stadium (8pm)
Saturday
Emirates v Al Ain, Emirates Club Stadium (5pm)
Sharjah v Shabab Al Ahli Dubai, Sharjah Stadium (8pm)
Voices: How A Great Singer Can Change Your Life
Nick Coleman
Jonathan Cape
Al Jazira's foreign quartet for 2017/18
Romarinho, Brazil
Lassana Diarra, France
Sardor Rashidov, Uzbekistan
Mbark Boussoufa, Morocco
Match info
Costa Rica 0
Serbia 1
Kolarov (56')
The results of the first round are as follows:
Qais Saied (Independent): 18.4 per cent
Nabil Karoui (Qalb Tounes): 15.58 per cent
Abdelfattah Mourou (Ennahdha party): 12.88 per cent
Abdelkarim Zbidi (two-time defence minister backed by Nidaa Tounes party): 10.7 per cent
Youssef Chahed (former prime minister, leader of Long Live Tunisia): 7.3 per cent
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.”
COMPANY%20PROFILE
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AUSTRALIA SQUAD
Aaron Finch (captain), Ashton Agar, Alex Carey, Pat Cummins, Glenn Maxwell, Ben McDermott, Kane Richardson, Steve Smith, Billy Stanlake, Mitchell Starc, Ashton Turner, Andrew Tye, David Warner, Adam Zampa
The specs: 2017 Porsche 718 Cayman
Price, base / as tested Dh222,500 / Dh296,870
Engine 2.0L, flat four-cylinder
Transmission Seven-speed PDK
Power 300hp @ 6,500rpm
Torque 380hp @ 1,950rpm
Fuel economy, combined 6.9L / 100km
Most sought after workplace benefits in the UAE
- Flexible work arrangements
- Pension support
- Mental well-being assistance
- Insurance coverage for optical, dental, alternative medicine, cancer screening
- Financial well-being incentives