The United Arab Emirates (UAE), to which President Recep Tayyip Erdoğan paid an official visit as President for the first time, wishes to strengthen its political and economic relations with Türkiye. In his statement, the UAE Minister of Economy Marri said that the UAE wanted to reach comprehensive agreements with eight global economic markets, of which Türkiye is a part.
Abdulla bin Touq Al Marri, Minister of Economy of the United Arab Emirates, stated that the economic relations between Türkiye and the UAE were founded on solid ground and continued to improve despite regional and international challenges.
Marri emphasised that the UAE was Türkiye's biggest trade partner in the Arab region and, referring to the mutual visits of the leaders of the two countries, said that President Erdoğan's visit to the UAE, following the visit of Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed Al Nahyan to Türkiye on November 24, was a historical development.
Marri stated that these high-level visits were a clear indication of future cooperation between the two countries, adding, "In the next stage, we expect economic cooperation with Türkiye to include all areas that advance mutual interests and benefit both sides."
Marri stated that during President Erdoğan's visit, officials from both countries would sign a Joint Declaration on the Launch of Negotiations for the Comprehensive Economic Partnership Agreement in order to expand bilateral trade in the commercial and service sectors and to strengthen economic cooperation, and added that an agreement would be signed covering a wide range of areas such as health, science, advanced industry, maritime transportation, agriculture, cultural exchange, communication etc.
UAE is one of the top 15 countries that invest the most in Türkiye
Marri emphasised that the UAE was one of the top 15 countries that invest the most in Türkiye, highlighting that the UAE had made a direct investment of 5 billion dollars in Türkiye in 2020, while Türkiye's investments in the UAE had reached 310 million dollars in 2019.
Marri said that during his visit to Türkiye on November 24, Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed Al Nahyan signed over ten agreements covering the areas of energy, finance, and trade and, furthermore, established a ten-billion-dollar fund to support Türkiye's health and energy sectors.
Strong cooperation with Türkiye will be ensured
Informing about the UAE's strategic plans called the "Projects of the 50", designed to determine the route for the next 50 years, Marri stated that there were economy-based targets within the scope of the "Projects of the 50", including reaching comprehensive agreements with eight global economic markets, of which Türkiye is a part and achieving an annual export growth rate of 10 per cent in 10 important economic markets.
Noting that the defence industry is among the most competitive industries in the UAE, Marri remarked that the defence companies of his country had proven their superiority in this field.
Marri emphasised the importance of the defence industry to the UAE economy, saying that the space and defence sectors were integral to the country's future vision and a new economic model based on knowledge and innovation over the next 50 years.
Stressing that the UAE viewed expanding economic cooperation with a variety of friendly partner countries in the defence and space sectors as a critical component of its development strategy and future vision, Marri said, "I believe this is a vision shared by both the UAE and Türkiye, and the UAE is looking to expand its partnership with Türkiye in various vital areas in addition to the defence sector."
"UAE wishes to strengthen its relations with Türkiye"
Touching on the commercial relations, Marri pointed out that the non-oil trade between the two countries increased by 54 per cent compared to 2020 and reached 13.7 billion dollars last year and said, "The economic relations between Türkiye and the UAE are strong and have solid foundations. Despite the various regional and global challenges, relations between the two countries continue to improve."
Referring to the contribution that President Erdoğan's visit to Abu Dhabi will make to the relations between the two countries, Marri said:
"The UAE aims to strengthen its relations with Türkiye both politically and economically by focusing on investment. Thanks to this visit and the resulting momentum, the UAE looks forward to strengthening trade exchanges and joint cooperation in new economic sectors that will benefit both the economies of the two countries and the wider region."
Highlighting that it has become essential to build a greater regional consensus that guarantees peace and stability and benefits the countries of the region in light of significant global changes, Marri stated, "The region cannot tolerate any further polarisation and conflict, and the coming decades will require increased communication, integration and cooperation, particularly in the fields of political, economic, technological, health and food security."