UAE statement on trade relations with Turkey

Minister Al Zeyoudi, in London, the capital of England, where he will attend the Global Soft Power Summit, assessed the AA correspondent on the future of economic and trade relations between Turkey and the UAE.

Al Zeyoudi drew attention to the importance of the “Comprehensive Economic Partnership Agreement” signed between the two countries, saying, “It is expected to create at least 25,000 jobs in the United Arab Emirates and more than 100,000 in Turkey. It also there is great potential for many sectors, such as food safety, health, information and communication technologies, the financial sector and logistics,” he said.

Stating that bilateral trade achieved significant growth of more than 40 percent last year compared to the previous year, Al Zeyoudi said, “We have reached approximately $18.9 billion in our non-oil trade.” he used the phrase.

“TURKEY IS THE RIGHT PLACE FOR INVESTMENT”

Underlining that the UAE has already invested more than $5 billion in Turkey and is ready to increase this figure, Al Zeyoudi said: “But we are not limited to this figure. Unlimited. Whenever there are opportunities, we will explore them.” he said.

Al Zeyoudi stressed that the excellent growth of the Turkish financial system proves that “Turkey is the right place” for UAE investments, noting that this year’s profits increased by more than 40 percent compared to the previous year.

Minister Al Zeyoudi said: “All this means that there are strong economic opportunities in Turkey.” he performed the assessment of it.

Noting that the two countries are exploring ways to help each other gain access to new markets, Al Zeyoudi said, “Because we have great interest in Turkey’s neighbours, especially when it comes to East Asia and Eastern Europe, and we also have common interests in Africa”. saying.

“BAE AND TURKEY MADE GREAT PROGRESS IN LOGISTICS COOPERATION”

Noting that his country and Turkey have made “great progress” in logistics cooperation, the UAE minister noted that they are investigating new routes that will shorten the time for shipments from Turkey to the UAE.

Al Zeyoudi said: “Normally it takes 28 days. Now it will take half that time because we are dealing with the question of how to get from Turkey directly to Iran and the United Arab Emirates by sea or from Turkey to Iraq and the United Arab Emirates.” he said.

Saying that the UAE is working on the logistics infrastructure, Al Zeyoudi also stressed that his country is in talks with Turkish companies on how to cooperate in the African market.

“NO LIMITS IN OUR RELATIONSHIP”

Minister Al Zeyoudi noted that talks were held between his country and Turkey on green hydrogen projects, as well as solar and wind energy, saying: “There is great interest. Not only that, we are already in the feasibility study phase. As I said before, there are no limits in our relationships.” saying.

Al Zeyoudi stated that the United Arab Emirates is “very pragmatic” in the fight against climate change and that it has successfully managed to reduce the share of oil and natural gas in its gross domestic product.

Furthermore, underlining that the UAE prides itself on being one of the world’s largest investors in renewable energy, Zeyoudi said, “We are investing more than $50 billion in more than 70 countries.” he used the phrase. (AA)