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UAE and Turkey close to signing economic partnership agreement

One of the key points of the agreement is removing trade barriers between the two countries (Pic Twitter/UAE Foreign Trade Minister)
By TRENDS Desk
April 27, 2022 11:44 pm
  • The new partnership is expected to double bilateral trade between both countries.
  • Bilateral trade between the UAE and Turkey has climbed 80 percent over the past three years.

The UAE and Turkey are in final talks regarding the launch of a comprehensive economic partnership agreement, according to the UAE’s minister of state for foreign trade, Thani bin Ahmed Al Zeyoudi.

The new partnership is expected to double bilateral trade between both countries, strengthen cooperation efforts, create new jobs, and boost the resilience of domestic supply chains.

Also, the partnership will pave the way for constructive cooperation as it will propel business activities between both parties by cutting tariffs, facilitating capital flows, and removing trade barriers.

Al Zeyoudi said that he is currently in Istanbul exploring untapped opportunities for UAE importers and exporters.

Bilateral trade between the UAE and Turkey has climbed 80 percent over the past three years, media reports said.

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