UAE hopes to finalize trade deal with Turkey

ISTANBUL

The United Arab Emirates hopes to finalize a trade partnership agreement soon with Turkey in a bid to increase the trade volume, its foreign minister has said during a visit to Istanbul to hold talks with President Recep Tayyip Erdoğan and Foreign Minister Mevlüt Çavuşoğlu.

UAE’s Minister for Foreign Affairs and International Cooperation Sheikh Abdullah bin Zayed paid a two-day trip to Turkey, where he exchanged views and potential economic cooperation with his host, Çavuşoğlu and Erdoğan.

The two sides discussed ways to advance bilateral cooperation and regional issues and the importance of enhancing efforts to establish peace, security and stability. Among the issues discussed were the stability of energy supplies and the worsening situation of the food markets as a result of the Russian invasion of Ukraine.

Turkey and the UAE are in the process of normalizing their ties after nearly a decade of coldness. Erdoğan and UAE’s Mohammed bin Zayed exerted efforts to mend the relationship through mutual visits.

Abdullah bin Zayed stressed that Emirati-Turkish relations were steadily growing and evolving, and both leaderships were determined to establish a sustainable model of a win-win partnership.

“I hope that we can work together to finalize the trade partnership agreement between our countries, whereby we can double our trade exchanges,” he said at a joint press conference with Çavuşoğlu.

He highlighted renewable energy as one of the sectors where both nations were interested in strengthening their bilateral relations. “This sector is not only successful from a commercial point of view, but is also consequential to our countries that are both working toward reducing carbon emissions in the world.”

For his part, Çavuşoğlu said that the talks with Sheikh Abdullah touched on many issues related to collaboration in sectors such as trade, economy, technology and energy, stressing that the UAE was Turkey’s largest trade partner in the region. He indicated that Turkish investors were keen to increase their investment in the UAE.

Defense minister to go to UAE in rare visit

Turkish Defense Minister Hulusi Akar will pay a visit to the United Arab Emirates on May 30 as part of the normalization process between the two nations, the Demirören News Agency reported on May 29.

Akar will be the first Turkish defense minister to visit the Emirates in the last 15 years. He will meet Mohammed bin Ahmad Al Bowardi, UAE’s state minister responsible for defense affairs.

The two ministers will exchange views on the regional issues and discuss cooperation on military training and the defense industry.