Türkiye and the United Arab Emirates signed a comprehensive economic partnership agreement
The Turkish president Recep Tayyip Erdogan, and the United Arab Emirates, Sheikh Mohammed bin Zayed al Nahyan, hold a video conference which they witnessed the signing ceremony of the Comprehensive Economic Partnership Agreement between the two countries.
The agreement was signed by the representative of the Turkish and UAE government of, Ministers of Economy, Foreign and Economy, Trade, so that the two countries ushered in a new era of bilateral cooperation that contributes to stimulating trade exchange, increasing investment flows and creating Joint opportunities in priority sectors.
The President of the UAE welcomed the signing of the Comprehensive Economic Partnership Agreement, noting that the signing of the partnership embodies the great and qualitative development of the relations between the two countries during the last period, as the total non-oil trade between Türkiye and the UAE reached approximately $19 billion in 2022, an increase of 40% over 2021 and 112% for the year 2020.
Türkiye becomes the fastest growing partner among the 10 largest trading partners of the UAE.
The agreement not only aims to stimulate trade and investment exchange and joint economic growth, which enhances the quality of life of the two friendly peoples.
According the UAE present statements in the meeting, “the UAE’s direction towards strengthening development partnerships in the region, in a way that supports peace and cooperation and fulfills the aspirations of peoples towards development, stability and prosperity”.
The Turkish President Erdogan praised the support provided by the UAE to Turkey since the first day of the earthquake, appreciating the efforts made by the UAE search and rescue teams in the earthquake areas, as well as the great support provided by the field hospitals established by the UAE and their services in these areas.
The UAE-Turkish relations witnessed tangible positive developments during the past two years, supported by official visits exchanged between the leaderships of the two countries, as His Highness Sheikh Mohammed bin Zayed Al Nahyan visited Turkey on November 24, 2021 at the invitation of the Turkish President, while President Recep Tayyip Erdogan visited The UAE on February 14, 2022.
During the first visit, the UAE announced the establishment of a $10 billion investment fund in Turkey that will focus on logistics, energy, health and food sectors. During the second visit, 13 cooperation agreements were signed in many areas of common interest.
The Turkish Recep Tayyip Erdogan president had also participated in the tenth session of the World Government Summit 2023 in Dubai, where he delivered a recorded speech during a main session within the second day’s work, in which he emphasized the depth of the relations between his country and the UAE.