Türkiye, UAE bilateral trade to reach $25B in five years says Erdogan

Istanbul, The Gulf Observer: The trade volume between Türkiye and the United Arab Emirates will reach $25B in five years thanks to the Comprehensive Economic Partnership Agreement signed between the two countries, the Turkish president has said.

Speaking at the signing ceremony via video link on Friday, Recep Tayyip Erdogan underlined that the economic and trade relations between the two countries will enter a new phase with the signing of the agreement.

The 50-year Türkiye-UAE relations are based on strong foundations, Erdogan said, adding: “Thanks to the agreement, the barriers to trade in goods and services will be removed, and the activities of our investors and entrepreneurs will be facilitated.”

“In this way, we will build an economic bridge extending from Europe to North Africa, from Russia to the Gulf, on solid foundations,” he added.

Also, he expressed his gratitude to the UAE for its support following the February 6 twin earthquakes in southern Türkiye.

“The Turkish nation will never forget the helping hand extended to them,” he added.

More than 45,000 people died in Türkiye in the magnitude 7.7 and 7.6 earthquakes on Feb. 6.

The earthquakes, which were centred in the province of Kahramanmaras, affected more than 13 million people across 11 provinces, including Hatay, Adana, Gaziantep, Diyarbakir, Adiyaman, Malatya, Kilis, Osmaniye, Elazig, and Sanliurfa.