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ABU DHABI, July 20 // The Emirati-Turkish Business Forum, which was held in the capital, Abu Dhabi, witnessed the announcement of two agreements to enhance cooperation between the two countries in the fields of exports, construction, infrastructure, energy and hospitality sectors, in the presence of His Excellency Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, and His Excellency Mohamed Hassan Al-Suwaidi, Minister of Investment.
His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, His Excellency Professor Omar Polat, Turkish Minister of Commerce, His Excellency Abdullah Muhammad Al Mazrouei, President of the Federation of Chambers of Commerce and Industry in the State, and His Excellency Abdullah Hamid Al Hameli, Head of the UAE side of the UAE-Turkish Business Council, participated in the forum. , Nile Olpak, Chairman of the Turkish International and Economic Relations Council, and Taufik Oz, Head of the Turkish side of the Emirates-Turkish Business Council, along with a large number of officials, business leaders, heads and representatives of companies in both countries.
The forum coincides with the official visit of the Turkish President and the high-level delegation accompanying him to the country.
During the forum, the two sides discussed ways to advance the distinguished bilateral relations between the two countries to the next stage of partnership and joint economic growth, in conjunction with the preparations of the two countries for the entry into force of the Comprehensive Economic Partnership Agreement between them in early September, an agreement that will launch a new era of constructive cooperation relations and create more opportunities. Expansion for the business communities of the two countries, providing a platform for integration and partnerships for the private sector, and stimulating trade and investment flows between the two sides.
The forum witnessed the exchange of two agreements to enhance cooperation and partnership between the business communities of the two countries, the first between the Department of Economic Development – Abu Dhabi and the Turkish Exporters Union, represented by His Excellency Rashid Abdul Karim Al Balushi, Undersecretary of the Department of Economic Development – Abu Dhabi, and Mustafa Gulteeb, Chairman of the Board of Directors of the Federation, and the second Between the Emirati “Alfa Abu Dhabi” and the Turkish “Limac”, represented by Eng. Hamad Salem Al Ameri, Managing Director and CEO of “Alfa Abu Dhabi”, and Ibru Ozdemir, Chairman of the Limak Board of Directors, and aims to conclude a group of commercial partnerships between the two sides and establish joint projects in various fields. Such as construction, development, infrastructure, energy and hospitality in the two countries.
His Excellency Dr. Thani Al-Zeyoudi stressed that the United Arab Emirates and the friendly Republic of Turkey are linked by strong relations and a growing strategic partnership in all fields, thanks to the high-level mutual visits between the leaderships of the two countries.
His Excellency pointed out that the Emirati-Turkish relations are witnessing rapid growth in light of the forward-looking vision and the common desire of the leaderships of the two countries to advance these relations to new levels of partnership and sustainable growth of their economies, in the interest of the two friendly peoples.
His Excellency said: “The comprehensive economic partnership agreement signed between the UAE and Turkey, which will enter into force next September, will contribute to the inauguration of a new era of economic integration supported by strong trade and investment relations based on achieving the common interests of the two friendly countries, as the agreement works to create more One of the opportunities and potentials for the Emirati and Turkish business communities, and the opening of new paths for exporters of goods and services to the two countries and the surrounding regional markets, in a way that supports stimulating trade and investment flows in the two countries.
His Excellency added that the UAE-Turkish relations are currently witnessing their most prosperous phase, which is confirmed by the latest data and figures. The total intra-non-oil trade reached about $18 billion in 2022, a growth of 40% compared to 2021, and an increase of 112% over 2020, so that Turkey becomes the partner. The fastest growing business among the top 10 trading partners of the UAE around the world, and the total balance of mutual investments between the two countries has increased to $20 billion.
His Excellency continued, “The UAE-Turkish Business Forum, which was held today, represents an important platform to enhance economic partnership and mutual investments between the UAE and Turkey in areas and sectors of common interest. The forum also supports channels of communication and building new partnerships between the business communities of the two countries.”
For his part, His Excellency Dr. Omer Polat, Turkish Minister of Trade, stressed that the UAE is one of Turkey’s most important trading partners in the region and the Arab world, and that there is a common will to elevate these growing relations to broader levels, in conjunction with the imminent implementation of the Comprehensive Economic Partnership Agreement between the two countries. Marking a new phase of the growth and prosperity of trade relations, especially since the agreement aims to double the current value of non-oil intra-trade within the next five years, by canceling or reducing customs duties on most goods and products exchanged between the two sides.
His Excellency added that the convening of the Emirati-Turkish Business Forum as part of the visit of His Excellency President Recep Tayyip Erdogan to the UAE reflects the extent of interest in developing economic relations between the two countries, especially as it is an ideal platform for concluding partnerships between the business communities and the private sector in the two countries.
His Excellency said that Turkey and the UAE share many common values that add great depth to bilateral relations, strengthen economic and trade ties, and open the way for accelerating growth and supporting sustainable development.
The forum witnessed a presentation of the most promising investment opportunities in many economic sectors in the country, including trade, technology, financial activities, insurance, transportation, logistics, real estate, manufacturing, etc.
