emirates7 - The United Arab Emirates and the Republic of Türkiye recently held the second session of the Joint Economic and Trade Commission (JETCO) in Abu Dhabi, aimed at deepening trade and economic ties between the two nations.
This latest meeting built on the momentum from the inaugural session in Istanbul in 2023 and supported the objectives of the Comprehensive Economic Partnership Agreement (CEPA), which officially came into effect on 1st September 2023.
Co-chaired by Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and Ömer Bolat, Türkiye’s Minister of Trade, the session marked continued progress in bilateral relations since the CEPA's implementation and the launch of JETCO.
Also in attendance were Saeed Thani Hareb Al Dhaheri, the UAE Ambassador to Türkiye, and Juma Mohamed Al Kait, Assistant Undersecretary for International Trade Affairs at the UAE Ministry of Economy.
Discussions during the commission focused on a wide range of sectors, including trade, investment, green economy, financial services, advanced technology, customs, regulations, Halal standards, and collaboration on joint ventures in third countries.
Dr. Al Zeyoudi emphasized the importance of JETCO as a strategic platform for advancing UAE-Türkiye economic relations. “This commission allows us to identify new opportunities for our exporters, drive investment in priority sectors, and establish a sustainable foundation for growth. Our partnership through CEPA has already led to a threefold increase in bilateral non-oil trade since 2021, and we are eager to build on that success,” he stated.
Minister Bolat highlighted the significance of the UAE to Turkish enterprises, noting, “To date, Turkish companies have executed 149 projects worth $17.7 billion in the UAE, making it the 10th most active market for Turkish international projects. This meeting is a key step towards expanding our bilateral cooperation and enhancing shared economic prosperity. The UAE remains one of Türkiye’s top economic partners.”
As part of the session, the first meeting of the UAE-Türkiye CEPA Joint Committee was also convened. The committee reviewed the agreement’s impact so far, shared implementation experiences, evaluated tariff and quota issues, and proposed refinements to enhance its effectiveness.
Both the JETCO and CEPA Joint Committee sessions concluded with the signing of ministerial minutes by Al Zeyoudi and Bolat.
The meetings were followed by a high-level roundtable involving major businesses and investors from both countries, offering a platform to explore investment opportunities and strategic partnerships.
Speaking at the roundtable, Al Zeyoudi said, “We now have a significant opportunity to expand trade and investment between our private sectors. While the CEPA has created the foundation, it is the ambition and innovation of our business communities that will drive it forward. Meetings like this are essential to identify and unlock these opportunities.”
These discussions in Abu Dhabi reflect the strong and growing partnership between the UAE and Türkiye, particularly in fast-growing sectors such as finance, agriculture, logistics, transportation, and tourism.
This latest meeting built on the momentum from the inaugural session in Istanbul in 2023 and supported the objectives of the Comprehensive Economic Partnership Agreement (CEPA), which officially came into effect on 1st September 2023.
Co-chaired by Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and Ömer Bolat, Türkiye’s Minister of Trade, the session marked continued progress in bilateral relations since the CEPA's implementation and the launch of JETCO.
Also in attendance were Saeed Thani Hareb Al Dhaheri, the UAE Ambassador to Türkiye, and Juma Mohamed Al Kait, Assistant Undersecretary for International Trade Affairs at the UAE Ministry of Economy.
Discussions during the commission focused on a wide range of sectors, including trade, investment, green economy, financial services, advanced technology, customs, regulations, Halal standards, and collaboration on joint ventures in third countries.
Dr. Al Zeyoudi emphasized the importance of JETCO as a strategic platform for advancing UAE-Türkiye economic relations. “This commission allows us to identify new opportunities for our exporters, drive investment in priority sectors, and establish a sustainable foundation for growth. Our partnership through CEPA has already led to a threefold increase in bilateral non-oil trade since 2021, and we are eager to build on that success,” he stated.
Minister Bolat highlighted the significance of the UAE to Turkish enterprises, noting, “To date, Turkish companies have executed 149 projects worth $17.7 billion in the UAE, making it the 10th most active market for Turkish international projects. This meeting is a key step towards expanding our bilateral cooperation and enhancing shared economic prosperity. The UAE remains one of Türkiye’s top economic partners.”
As part of the session, the first meeting of the UAE-Türkiye CEPA Joint Committee was also convened. The committee reviewed the agreement’s impact so far, shared implementation experiences, evaluated tariff and quota issues, and proposed refinements to enhance its effectiveness.
Both the JETCO and CEPA Joint Committee sessions concluded with the signing of ministerial minutes by Al Zeyoudi and Bolat.
The meetings were followed by a high-level roundtable involving major businesses and investors from both countries, offering a platform to explore investment opportunities and strategic partnerships.
Speaking at the roundtable, Al Zeyoudi said, “We now have a significant opportunity to expand trade and investment between our private sectors. While the CEPA has created the foundation, it is the ambition and innovation of our business communities that will drive it forward. Meetings like this are essential to identify and unlock these opportunities.”
These discussions in Abu Dhabi reflect the strong and growing partnership between the UAE and Türkiye, particularly in fast-growing sectors such as finance, agriculture, logistics, transportation, and tourism.