EXPLAINER: Why are foes Turkey and Saudi Arabia fixing ties?
DUBAI, United Arab Emirates (AP) — The killing of columnist Jamal Khashoggi by Saudi agents in Istanbul sent an already tense and shaky relationship between Turkey and Saudi Arabia into complete free fall.
Fast-forward 3 1/2 years later and it appears Turkey and Saudi Arabia are attempting to build a bridge and move on.
In his first trip to Saudi Arabia in five years, Turkish President Recep Tayyip Erdogan embraced Crown Prince Mohammed bin Salman and sipped traditional Arabic coffee with King Salman before a state dinner and direct talks that ran into the early hours of Friday.
Here's a look at what's underpinning rapprochement between the two Sunni Muslim powerhouses:
WHAT'S BEHIND TURKEY'S DIPLOMATIC PIVOT?
Turkey’s diplomatic drive coincides with the country’s worst economic crisis in two decades. Having wealthy Gulf Arab states as allies can help draw investments. Turkey has also taken steps to improve relations with Egypt and Israel.
After mending ties with the United Arab Emirates, Abu Dhabi announced a $10 billion fund to support investments in Turkey and made other moves to support the economy.
Official inflation stands at a staggering 61% while the lira tumbled 44% in value against the dollar last year. These figures do not bode well for Erdogan, whose grip on power could be threatened by the country’s economic woes. Turkey is scheduled to hold elections next year.
Meanwhile, Saudi Arabia is enjoying a bumper economic year with its foreign reserves expected to climb. Higher energy prices are forecast to rake in more than $400 billion of revenue this year for the kingdom. In other words, Saudi Arabia has capital to invest in Turkey.
WHAT'S IN IT FOR SAUDI ARABIA?
Saudi Arabia’s change of heart comes as the kingdom seeks to broaden its alliances at a time...