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The agreement aims to enhance strategic cooperation and joint growth for the benefit and prosperity of the two friendly peoples and the entire region.
It aims to abolish or reduce customs duties on 82% of goods and products, i.e. more than 93% of the non-oil intra-trade components.
It effectively contributes to doubling non-oil intra-trade from its current value to $40 billion annually within 5 years and creates 25,000 new jobs in the two countries by 2031.
UAE-Turkish non-oil trade increased 40% in 2022, recording $18.9 billion, making Turkey the country’s fastest growing trade partner over the past year.
Abu Dhabi, March 3 / His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the State, “may God protect him” and His Excellency Recep Tayyip Erdogan, President of the friendly Republic of Turkey – during a summit they held via visual communication technology – witnessed the signing ceremony of the Comprehensive Economic Partnership Agreement between the UAE and the Republic of Turkey.
The agreement was signed by the representative of the UAE.. His Excellency Abdullah bin Touq Al-Marri, Minister of Economy, and His Excellency Dr. Thani bin Ahmed Al-Zeyoudi, Minister of State for Foreign Trade..While it was signed by the representative of the Turkish Republic, His Excellency Muhammad Mush, Minister of Commerce.. the two friendly 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.
At the beginning of the video call, His Highness Sheikh Mohammed bin Zayed Al Nahyan welcomed His Excellency President Recep Tayyip Erdogan, expressing his happiness at renewing the meeting with him and thanking him for the opportunity, through the agreement, to put another step towards strengthening and deepening relations between the two friendly countries.
His Highness welcomed the signing of the Comprehensive Economic Partnership Agreement. He said, “We congratulate ourselves on signing the agreement, which we consider an exceptional agreement with a dear and friendly country.”
His Highness also expressed his thanks and appreciation to the Turkish President for his keenness to sponsor the signing of this important partnership despite his great concerns in light of the circumstances of the earthquake that Turkey witnessed.. and His Highness said on this occasion.. I pray to God Almighty to protect Turkey and its friendly people from all evil.. and to give you help And the strength to overcome this stage.. We are confident in the ability of the Turkish people to overcome these conditions and move towards construction and development.
His Highness reaffirmed the UAE’s support for Turkey as a helper and helper. He said, “This is our approach that we inherited from our founding father, Sheikh Zayed bin Sultan Al Nahyan, may God have mercy on him, in building bridges of cooperation and solidarity with brotherly and friendly peoples.”
His Highness pointed out that the signing of the partnership is an embodiment of the great and qualitative development that our relations witnessed during the last period, as the total non-oil trade between the UAE and Turkey reached nearly $19 billion in 2022, an increase of 40% from 2021 and 112% from 2020..to become Turkey The fastest growing partner among the top 10 trading partners of the UAE.
His Highness affirmed that the agreement expresses the common will to launch a new phase of relations between our two countries in various fields..and God willing, it will contribute to strengthening the bonds of economic cooperation..and advancing the development process in the two countries towards a bright future.
His Highness, the President of the State, stated that the agreement aims not only to stimulate trade and investment exchange and joint economic growth, in a way that enhances the quality of life of the two friendly peoples.
His Highness affirmed 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.
At the end of the visual meeting, His Highness thanked the officials from the two countries who completed this agreement in less than a year, which we hope will achieve prosperity and common growth for the two countries.
For his part, President Recep Tayyip Erdogan expressed his greetings to His Highness the President of the State and his happiness at attending the signing ceremony of the Comprehensive Economic Partnership Agreement between the UAE and the Republic of Turkey.
On this occasion, he said, “together we write a new chapter in our relations,” noting that the joint efforts of the two sides to strengthen their bilateral economic relations, which are based on our common history, culture and values, also contribute significantly to the prosperity, well-being and stability of our region and the world.
He added, “The Comprehensive Economic Partnership Agreement signed by the two countries today and the important advantages it contained, such as liberalizing bilateral goods, services and trade with a focus on small and medium-sized companies, facilitating the work of investors and setting rules for protecting intellectual property rights in accordance with the highest standards, will constitute an incentive to promote trade and investments…and we will reap the fruits.” This agreement in our two countries and our region within a short period of time, which will stimulate more cooperation between the business community in both countries.
His Excellency the Turkish President said that the vision of the late Sheikh Zayed bin Sultan Al Nahyan, who is known for his love for Turkey, was an important pillar of what the two countries’ relations have achieved and the level they have reached.
He also referred to the earthquakes that occurred in large areas of Turkey and the great destruction they caused and their repercussions on about 14 million Turks living in these areas, looking forward to the reconstruction of these areas within a year and the construction of high-quality and safe buildings to meet the challenges of housing in the entire earthquake areas.
His Excellency President Recep Tayyip 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, in addition to the great support provided by the field hospitals established by the UAE and its services in these areas.
The Comprehensive Economic Partnership Agreement between the UAE and Turkey was designed in a way that achieves mutual benefit for both parties and works to stimulate long-term, sustainable and comprehensive economic growth in both countries, as it cancels the
