Other BriefingsSignificant Growth In Turkiye – UAE Growth Anticipated: UAE Ambassador
Bilateral CEPA comes into effect September 1st and will boost trade and manufacturing.
The upcoming five years will see substantial growth in trade and new projects between the United Arab Emirates (UAE) and Türkiye, UAE Ambassador to Ankara Saeed Thani Hareb Al Dhaheri has said on Wednesday (August 2).
Al Dhaheri underlined that the two countries celebrate 50 years of diplomatic relations this year and described ties as “strong and brotherly. There will be new developments in the upcoming five years.
Further dialogue and areas of cooperation and investment will be looked into” the ambassador at the UAE embassy in the capital Ankara. He pointed to several deals that were signed between the two countries during the recent visit of President Recep Tayyip Erdoğan to the country, which will open the way for future collaborations.
The three-day Gulf tour, which included Abu Dhabi, comes after Erdoğan secured re-election in late May and builds on Ankara’s diplomatic efforts since 2021 to normalize relations.
Türkiye and the UAE signed 13 agreements worth US$50.7 billion (TL 1.37 trillion), and ties have been elevated to the level of strategic partnership because of the agreement. The parties have also advanced the existing cooperation in energy, transportation, infrastructure, logistics, e-commerce, finance, health, food, tourism, real estate, construction, the defense industry, artificial intelligence and advanced technologies.
Meanwhile, the two countries plan to organize a trade and investment forum in Istanbul in autumn. Being asked about the scope of the forum and whether new agreements could be signed, Al Dhaheri elaborated that the meeting would be an opportunity to investigate potential cooperation areas and enhance contact between the two countries’ businesspeople.
The two countries expect to increase bilateral trade volume to US$40 billion in five years, assisted by the Closer Economic Partnership Agreement (CEPA) the two countries signed earlier this year, and which comes into effect on September 1.
That is expected to create 100,000 employment opportunities in Türkiye and well as 25,000 in the UAE.
Al Dhaheri also highlighted that relations are not limited to the economy and investment but that strong social relations, the same religion and similar traditions bind the two countries.
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- Establishing A Representative Office In Turkiye
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