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World News
06 April 2025

Türkiye-UAE Talks Set To Enhance Economic Ties

Consultations in Abu Dhabi aim to bolster investments and cooperation in Africa and beyond.

The second round of Türkiye-United Arab Emirates (UAE) consultations on Africa is set to take place in Abu Dhabi on Monday, April 6, 2025, as confirmed by the Turkish Foreign Ministry. This significant meeting will be co-chaired by Turkish Deputy Foreign Minister Burhanettin Duran and the UAE's State Minister for Foreign Affairs, Shahbut bin Nahyan Al Nahyan.

The discussions will primarily focus on developments in Africa and seek to explore potential areas of cooperation, particularly in the economy and investments across the continent. This initiative stems from a decision made during President Recep Tayyip Erdogan’s visit to the UAE in February 2022, which aimed to enhance bilateral relations and foster collaboration on various fronts.

The first round of these consultations took place in Ankara on October 10, 2023, marking a commitment to regular dialogue between the two nations regarding African affairs. The ongoing consultations are part of a broader strategy to strengthen Türkiye's presence in Africa, which has been a focal point for Turkish foreign policy in recent years.

In conjunction with these consultations, Turkish Minister of Trade Omer Bolat is also scheduled to visit Abu Dhabi on the same day for a series of official engagements. His visit is expected to further solidify the economic ties between Türkiye and the UAE.

Minister Bolat will attend the opening ceremony of the 14th Annual Investment Meeting (AIM) Congress, where he is set to deliver the keynote address at the leaders’ session titled “Foreign Direct Investment as a Catalyst for Global Unity.” This session aims to highlight the crucial role of foreign direct investment in fostering international cooperation and economic growth.

During the AIM Congress, Bolat will hold bilateral talks with Rustam Minnikhanov, the president of the Republic of Tatarstan, focusing on trade, investment, and construction services. He will also meet with Dawood Al Shezawi, President of the AIM Global Foundation, to discuss collaborative opportunities.

Moreover, Minister Bolat and UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi will co-chair the second session of the Türkiye-UAE Economic and Trade Joint Committee (JETCO) and the first session of the Türkiye-UAE Comprehensive Economic Partnership Agreement (CEPA) Joint Committee. These committee meetings are expected to cover a wide array of topics, including bilateral trade, CEPA, investments, contracting services, trade financing, service sectors, customs cooperation, green transition, and partnerships in third countries.

As part of these discussions, memorandums of understanding (MoUs) will be signed by both parties for the JETCO and CEPA committees, further institutionalizing their economic cooperation. A roundtable meeting with leading firms from both countries will also take place, allowing ministers to consider feedback and proposals from the business community.

In recent years, the trade volume between Türkiye and the UAE has seen significant growth, exceeding $16 billion last year. Notably, in the first quarter of 2024, trade surged by 44% compared to the same period in the previous year, reaching $4.8 billion. Under the CEPA, which entered into force on September 1, 2023, both countries aim to increase their bilateral trade to $40 billion within five years.

Furthermore, Turkish construction firms have undertaken 149 projects worth $17.7 billion in the UAE, establishing it as the 10th most active market globally for Turkish contractors. This robust engagement underscores the potential for further economic collaboration and investment opportunities between Türkiye and the UAE.

The upcoming consultations and Minister Bolat's visit are seen as pivotal steps in building on the current momentum in Türkiye-UAE relations. By fostering deeper trade ties and encouraging greater cooperation among firms from both countries, both nations hope to leverage their strengths and enhance mutual benefits.

As Türkiye continues to expand its influence in Africa and strengthen its economic partnerships with the UAE, the outcomes of these meetings could have lasting implications for regional cooperation and development. The focus on investment and trade is likely to pave the way for increased collaboration not only between Türkiye and the UAE but also within the broader context of African development.

In conclusion, the second round of Türkiye-UAE consultations on Africa, alongside Minister Bolat's engagements in Abu Dhabi, reflects a strategic commitment to enhancing bilateral relations and exploring new avenues for cooperation. As both countries work towards their ambitious trade goals, the outcomes of these discussions will be closely watched by stakeholders in both nations.