UAE  and Turkey :  Economic rapprochement between the two countries heighten Brotherhood fears

“The Brotherhood received a new blow because of the economic rapprochement between the United Arab Emirates and Turkey, which embraced them and saw them as allies for years.”

For several months, Turkey has been seeking rapprochement and a return to relations with the United Arab Emirates. Bloomberg News, quoting sources, revealed that talks were held to inject billions of dollars into Turkish investments several months ago.

“Last August, Abou Dabi Crown Prince Sheikh Mohammed ben Zayed al-Nahyane and Turkish President Recep Tayyip Erdogan held a phone conversation amid growing signs of improved relations, which followed a surprise meeting between Erdogan and UAE National Security Advisor Sheikh Tahnoun bin Zayed al-Nahyane.”

The progress of the investment discussions is another sign of a transformation in relations between the two countries, which have been at odds over the past decade, over everything; from Islamist movements to the conflicts in Syria and Libya, and potential deals could revive an investment pipeline that faltered amid long-standing tensions over Turkey’s support for the Brotherhood, according to the US agency, which confirmed that Turkish investment funds are looking to work with Abou Dabi Investment Authority, or ADIA, the emirate’s largest wealth fund, with assets of around $686 billion, and ADQ .

Bloomberg quoted one source as saying that ADQ alone is considering spending as much as $1 billion on healthcare and financial technology goals, with assets estimated at $110 billion. ADQ is the third largest sovereign wealth fund in the emirate, behind the Abou Dabi Investment Authority and Mubadala Investment Company.

It said that International Holding, or IHC, the second largest listed company in the UAE, is assessing investment opportunities in the health care and industry sectors, in addition to another fund being considered in Turkey, Chimera Investments LLC, a private investment firm that is part of Royal Group in Abou Dabi, which may allocate up to $1 billion.

Aramex PJSC, a Dubai-based logistics company where ADQ bought a stake of around 22% last year, said earlier this month that it was in talks with MNG Kargo about acquiring the Istanbul-based delivery company.

The investments would be a blow to the Brotherhood, given the new shift in UAE-Turkish relations and Ankara’s eagerness to Abou Dabi, which will be reflected in the revival of the Turkish economy, which has been collapsing for years, and suffers from a huge deterioration in various fields.

This highlighted Turkey’s role in giving back to the UAE in this regard. A Turkish official, who asked not to be named, said in a report published by Deutsche Welle that the cost of strained relations in the region is unbearable with regard to Turkey, the UAE and Saudi Arabia.

The report suggested that in light of this new rapprochement, Ankara could resort to abandoning the Brotherhood completely by handing over wanted and sentenced persons to Ankara, in addition to expelling others from the country to overcome their repeated crises.

This is indeed what has shown several signs of it in the past period, where the Turkish authorities issued decisions to stop the activities of the Brotherhood, close their headquarters, determine the trends of media work through their channels, prevent the abuse of Egypt, the United Arab Emirates and Saudi Arabia altogether, and shut down and stop those who do not. At the same time, the United Arab Emirates identified new figures on its terrorist list, including individuals who are fleeing to Ankara, and it is therefore likely that they will be extradited in the coming period.