During the call, His Highness Shiekh Mohamed conveyed his best wishes for ongoing progress and prosperity for Türkiye, its government, and people….reports Asian Lite News
UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan held a phone call yesterday with his Turkish counterpart Recep Tayyip Erdogan, extending his congratulations on the centennial anniversary of the Republic’s establishment.
During the call, His Highness Shiekh Mohamed conveyed his best wishes for ongoing progress and prosperity for Türkiye, its government, and people.
Sheikh Mohamed affirmed the strength of relations between the UAE and Türkiye, emphasising their mutual commitment to further reinforce these ties at all levels to meet the aspirations of the two nations for development and prosperity.
President Erdogan expressed his appreciation to His Highness for the congratulatory message, acknowledging the sincere sentiments extended towards Türkiye and its citizens. He also wished for continued progress in the UAE and for further growth and prosperity in relations between the two countries.
In 2022, non-oil bilateral trade between the two countries surged by 40 percent, reaching US$18.9 billion, firmly establishing Türkiye as one of the UAE’s top ten trading partners, accounting for over three percent of the UAE’s non-oil foreign trade.
Total Emirati investments in Türkiye reached some US$7.8 billion by the end of 2021, spanning several sectors, such as financial services, real estate, transportation, renewable energy, ports and logistical services.
With the implementation of the CEPA, customs duties on 82% of goods and products, representing more than 93% of non-oil trade, will be eliminated or reduced. Moreover, the agreement improves market access to Türkiye for UAE exporters, particularly in sectors such as construction, metals, polymers, and other manufactured goods.
The CEPA sets ambitious goals for non-oil bilateral trade, aiming to surpass US$40 billion annually within five years. It also aims to increase Emirati exports to Türkiye by 21.7 percent, while encouraging investments in key sectors such as logistical services, e-commerce, food security, and renewable energy.
Both countries play a pivotal role in facilitating international trade flows as vital economies, fostering regional progress and prosperity while advancing economic relations, including the establishment of multibillion-dollar investment funds and cooperation agreements in critical sectors, such as advanced technologies, logistical services, and partnerships to support the development of emerging e-commerce.