UAE and Turkey sign Trade Agreement

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Dubai March 15, 2023:

The United Arab Emirates and Turkey signed a comprehensive economic partnership agreement (CEPA) in Abu Dhabi. The aim of the deal is to increase trade between the two countries to $40 billion in the next five years and create thousands of new jobs.

Dr Thani Al Zeyoudi, Minister of State for Foreign Trade, said in Abu Dhabi that the agreement was a milestone for the region.’It promises to write a new chapter in the UAE-Turkey bilateral relations, transforming long-standing friendship into a dynamic partnership for growth’ he said. ‘The agreement, which is expected to come into effect from the middle of this year, will create 25,000 highly skilled jobs in the UAE and 100,000 jobs in the Turkish market in the next 10 years’, Dr Al Zeyoudi told.

Speaking in Istanbul Turkish President Tayyip Erdogan said ‘The Comprehensive Economic Partnership Agreement (CEPA) will certainly take economic and trade relations between the two countries to a new phase’.

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