Türkiye goals to hold relations with the United Arab Emirates (UAE), that are on the stage of strategic partnership, additional by cooperating in all areas, particularly within the service sector and investments, a high official mentioned Monday throughout a go to to the Gulf nation.
The UAE and Turkish officers have convened the second session of the Joint Economic and Trade Commission (JETCO) in Abu Dhabi.
On the event, Trade Minister Ömer Bolat held bilateral and delegation conferences with Thani Ahmed Al Zeyoudi, the UAE minister of state for overseas commerce, he mentioned in a put up on the social media platform X.
The minister recalled that with the contribution of the Comprehensive Economic Partnership Agreement (CEPA), which entered into power on Sept. 1, 2023, they purpose to extend the commerce quantity between the 2 nations to $40 billion inside 5 years.
The JETCO session assembly marked a continuation of the optimistic momentum noticed within the business ties between the nations, notably since 2023.
“As Türkiye, we wish to carry our relations with the UAE, which are at the level of strategic partnership, further by cooperating in all areas, especially in the service sector and investments, and by working together on contracting and infrastructure projects in third countries,” Bolat mentioned on X.
“During the meetings, we reiterated our belief that the contribution of our public and private sector representatives will carry our gradually developing economic and trade relations with the UAE even further, and we agreed to increase mutual investments and increase bilateral trade volume in a balanced manner,” he added.
The minister additionally attended a gathering with businesspeople, stating that they mentioned “the steps that can be taken to strengthen our companies’ participation in joint projects and partnerships and new areas of cooperation, especially cooperation in third countries.”
“We continue to work with determination to increase our bilateral trade volume and mutual investments,” mentioned Bolat.
At the identical time, he additionally addressed the 14th AIM Congress, a serious funding gathering the place he delivered a gap speech on the panel titled “Foreign Direct Investment as a Catalyst for Global Unity.”
“In my speech, I emphasized that despite challenging global economic conditions such as disruptions in supply chains, logistical difficulties and geopolitical risks, investment opportunities continue to thrive on the basis of fair competition and mutual benefit, and in this regard, regional and global cooperation remains crucial. I also highlighted that, thanks to its strong investment environment offering highly favorable opportunities to investors, our country has successfully attracted $275 billion in foreign investments over the past 20 years,” he mentioned in a separate put up.
“The UAE and Türkiye have deep ties, with Türkiye now the UAE’s fourth largest non-oil trade partner. In my meeting with Ömer Bolat at the Joint Economic and Trade Committee, we discussed how we can open new avenues of collaboration in high-growth sectors,” Al Zeyoudi mentioned on X.
The UAE emerged as a serious investor in Türkiye lately, being concerned in areas from infrastructure, finance and banking whereas additionally displaying curiosity in Ankara’s rising protection trade.
At the identical time, Türkiye has additionally boosted its exports to the nation, with the Emirati being one of many high markets for cargo growth within the first months of this 12 months in comparison with the identical interval in 2024.
The bilateral funding flows are anticipated to develop additional on the again of direct contacts and pushed by CEPA.
Source: www.dailysabah.com