Unprecedented Development in Partnership between UAE and Turkey: Insights from Economy Minister

UAE Minister of Economy HE Abdullah bin Tuk Al Marri said that relations between the UAE and Turkey are entering a new stage of comprehensive strategic partnership.

In statements to the Emirates News Agency WAM, the minister said that the visit of UAE President Sheikh Mohammed bin Zayed Al Nihan to Turkey provides a strong impetus to take the existing partnership towards unprecedented growth prospects in the history of bilateral relations between the two countries.

He noted that “the economic relations between the UAE and Turkey have managed to continue their growth and development in recent years, despite the various changes that have taken place in the region and the world, as a result of the promising economic potential of the two countries. economy”.

He added: “As the two countries signed the Comprehensive Economic Partnership Agreement, we look forward to a promising future rich in trade, economic and investment opportunities, especially in light of the ambitious development plans adopted by the countries that offer promising opportunities in priority sectors in trade, investment , industry, tourism, transport, energy, food and technology…”

Last March, the UAE and Turkey signed a comprehensive economic partnership agreement that aims to stimulate long-term, sustainable and inclusive economic growth in both countries, as the agreement eliminates or reduces customs duties on 82% of goods and products, which is more than 93% of domestic non-oil trade Access to the Turkish market for Emirati exporters has also improved.

The comprehensive economic partnership agreement between the UAE and Turkey is expected to boost domestic non-oil trade, create 25,000 new jobs by 2031, and boost UAE exports to Turkey by 21.7%.

Source: VAM

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