Global Courant
ISTANBUL
UAE Economy Minister Abdulla bin Touq Al Marri said on Sunday that relations between the United Arab Emirates (UAE) and Turkey are witnessing a new phase of strategic partnership.
“UAE-Turkey relations are turning a new page on comprehensive strategic partnership,” Al Marri told state news agency WAM.
He said the ties between the two countries are strengthened by “the strong mutual desire to advance joint work and cooperation to serve their vision for development goals”.
In March, the UAE and Turkey signed the Comprehensive Economic Partnership Agreement (CEPA) to boost bilateral trade.
“In light of the ambitious plans adopted by the two countries in priority key sectors, we look forward to a promising future full of tremendous trade, economic and investment opportunities,” Al Marri said. said.
CEPA aims to “really beneficial for both countries and promote long-term, sustainable and inclusive economic growth by removing or reducing customs duties on 82 percent of goods and products, which represent more than 93 percent of non-oil trade.” Additional.
The minister also noted that the agreement “improves market access for UAE exporters to Turkey, including key sectors such as construction, metals and products, polymers and other manufactured products.”
The two countries hope to increase their bilateral non-oil trade to $40 billion annually within five years and to create 25,000 new jobs by 2031.
The non-oil trade volume between the two countries reached approximately $19 billion in 2022.
In February 2022, Türkiye and the UAE signed 13 cooperation agreements in many areas of common interest.
*Written by: Ikram Kouachi
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