The UAE and Türkiye signed a Comprehensive Economic Partnership Agreement (CEPA) and a Free Trade Agreement in Abu Dhabi, with the participation of UAE Minister of Economy Abdullah bin Touq Al-Marri, Minister of State for Foreign Trade Thani bin Ahmed Al-Zeyoudi, and Turkish Minister of Trade Mehmet Muş.
Addressing the signing ceremony via videoconference, President Recep Tayyip Erdoğan said the partnership agreement is of historic importance and added, “We will build an economic bridge with strong foundations, extending from Europe to North Africa, and from Russia to the Gulf region. Thanks to the comprehensive nature of the agreement, I believe we will increase our trade volume to some USD 25 billion over the next five years."
Commenting on the agreement, Minister of Trade Mehmet Muş said, “This agreement will serve to maximize bilateral trade volume and investments, proving to be beneficial for both countries." The agreement will create approximately 25,000 jobs in the UAE and 100,000 in Türkiye. It is slated to enter into force once all procedures have been ratified.
Source: Presidency of the Republic of Türkiye