UAE and Turkey aim to finalize a free trade deal in coming weeks
The United Arab Emirates (UAE) Trade Minister Thani al Zeyoudi said they are aiming to finalize a free trade deal with Turkey in the upcoming weeks.
Zeyoudi said that via the Comprehensive Economic Partnership Agreement (CEPA), the two countries will build deeper and more meaningful trade and investment ties.
Zeyoudi also described Turkey as “one of the region's most important economies,” in a Twitter post, following a videoconference meeting with his Turkish counterpart Mehmet Mus on Thursday.
Delighted to meet once again with @mehmedmus, Turkiye's Minister of Trade today. We are aiming to finalize the #UAETurkiyeCEPA in the coming weeks, and build deeper, more meaningful trade and investment ties with one of the region's most important economies ???????????????? https://t.co/A0yFRtMswL pic.twitter.com/jfSbEvMLMD— د. ثاني الزيودي (@ThaniAlZeyoudi) September 1, 2022
Turkey and the UAE that have been embroiled in tensions for almost a decade over a string of regional disputes, are seeking to mend relations.
In April, Ankara and Abu Dhabi launched negotiations for signing the CEPA, which is expected to double the trade volume between the two countries. After hosting talks with Turkish Trade Minister Mus on April 26, al Zeyoudi said that they see vast potential for the UAE-Turkey CEPA.
“By cutting tariffs, promoting free movement of goods, facilitating capital flows and reducing trade barriers, we will make it easier than ever to do business,” he said.