ANKARA (Reuters) -Turkish President Tayyip Erdogan praised a deal reached with Australia on Saturday to host next year’s U.N. climate summit, calling the compromise a meaningful achievement for multilateralism.

Resolving a lengthy standoff, the two countries agreed that Turkey will host the COP31 summit in 2026 while Australia leads the negotiation process. Ankara and Canberra both bid in 2022 to host the conference and had since refused to stand down.

“Taking into consideration that multilateralism has in recent times lost ground, I find this agreement that we reached with Australia to be meaningful,” Erdogan told an event at the Group of 20 summit in Johannesburg on Saturday evening.

Australian Prime Minister Anthony Albanese said on Sunday that his country would have “exclusive autho

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