ISTANBUL,- The Turkish army pension fund Oyak signed a deal on Thursday with the Oman investment authority (OIA) to set up a joint venture.

This joint investment venture is worth around $500 million, the Oman investment authority said on X on later on Thursday.

The agreement was announced at a joint news conference in Ankara with Turkish President Tayyip Erdogan and Oman's Sultan Haitham bin Tariq al-Said.

(Reporting by Huseyin Hayatsever and Ezgi Erkoyun; additional reporting by Yomna Ehab and Enas Alashray; editing by David Evans)