Trade Minister Mehmet MUS has said, "We expect Turkey and the UAE to add new business collaborations at a much more advanced level, to their existing success stories. With the entry into force of concerned agreement between parties, we will finally meet the goal of bilateral trade volume of $ 15 billion that we have approached with the UAE in 2017, in a short time.”
Minister of Trade Mehmet MUS and Minister of State for Foreign Trade of the United Arab Emirates Thani Bin Ahmed Al Zeyoudi held a press conference within the framework of the “Turkey-United Arab Emirates Comprehensive Economic Partnership Agreement”.
Mehmet MUS said Turkey and the UAE would reach the opportunity of developing their trade and economic relations in a more comprehensive manner, adding following expression; “the visits conducted under the auspices of our President have opened doors to a new era within the framework of our cultural, social, political and economic relations with the UAE. These contacts have also formed the basis of the Comprehensive Economic Partnership Agreement negotiations, which we have started here. The United Arab Emirates is currently the largest trading partner of Turkey in the Gulf region with a bilateral trade volume of $ 8 billion.”
'THE NUMBER OF UAE'S NEW INVESTMENTS AND BUSINESS PARTNERSHIPS IN OUR COUNTRY IS INCREASING EXPONENTIALLY'
The Minister said, “Many Turkish companies have accomplished successful business stories in the UAE and public companies and subsidiaries of the Emirates operate effectively in different sectors in our country. Also the number of new investments and business co-operations of the UAE in Turkey is increasing exponentially.
In light of these developments, we are not negotiating a conventional free trade agreement covering only the trade of goods in these negotiations only, but as the name implies, we are setting out to implement a new generation agreement model compatible with the global trade dynamics of the future. The global economy is going through difficult processes. During this period, trade protectionism, the pandemic and regional tensions are shaking up global dynamics and opening deep wounds in international trade.”
'WE ARE WITNESSING THE UAE BECOMING A GLOBAL PLAYER IN MANY SERVICE SECTORS
The Minister said, "In this difficult process, Turkey has managed to move up to a new class in global trade. As a matter of fact, as of 2021, for the first time in our history, we have succeeded in moving our share of global trade to over 1 percent and increased our exports to over 225 billion dollars. I believe that the commercial integrations we have built in the past period serve as anchors and play an important role in our positive decomposition in this success achieved in such a difficult environment. On the other hand, both Turkey and the UAE will become more resistant to cyclical risks and tests when the negotiations launched today are completed as soon as possible. Recently, we have been witnessing that the UAE has become a global player in many service sectors such as finance, tourism, aviation and technical consultancy.”
