UAE, Türkiye explore collaboration in energy, tech and industry
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UAE, Türkiye explore collaboration in energy, tech and industry

UAE, Türkiye explore collaboration in energy, tech and industry

Türkiye accounts for more than three per cent of the UAE’s non-oil foreign trade and is its seventh largest trading partner

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UAE-Turkiye meeting in July

A high-ranking UAE delegation, led by Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, concluded a two-day visit to Türkiye from July 13-14.

The visit was aimed at exploring new areas for future collaboration, especially in the energy, industry and advanced technology sectors.  Dr Al Jaber, met with Turkish Minister of Industry and Technology, Mustafa Varank, during his visit in addition to attending meetings with other senior government and private sector officials. A UAE Türkiye Investment Workshop, where the delegation outlined investment opportunities across the UAE’s industrial value chain, was also held.

Dr Al Jaber emphasised that the two countries share a clear vision for sustainable economic growth and continue to expand their relations, as highlighted by the visit of Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, to Türkiye at the end of 2021, and the visit of Turkish President Recep Tayyip Erdogan to the UAE in February that resulted in cooperation agreements, in addition to agreements and MoUs to boost cooperation across different fields that contribute to enhancing sustainable economic development.

Read: President of Turkey arrives in the UAE

“Our companies see opportunities in developing gas resources, energy infrastructure and renewable energy; healthcare, biotech and agri-tech; defense, logistics, digital communications, e-commerce and financial services. While we are keen to expand our investments in Türkiye, we also want to drive mutually beneficial partnerships for industrial investment in the UAE,” he said.

Dr Sultan Al Jaber invited Turkish companies to invest in the UAE’s industrial sector and benefit from industrial investment opportunities in petrochemicals, metals, pharma, medical equipment, electrical machinery, agri-tech, defense and space.

Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, who was part of the delegation, said: “Our Comprehensive Economic Partnership Agreement with Türkiye will bring unique opportunities to enhance bilateral trade and investments.”

Dr Al Zeyoudi added: “Our economic partnership with Türkiye is deeply rooted. Non-oil trade between the two countries amounted to about Dhs50.4bn in 2021, achieving a growth of 54 per cent compared to 2020, and an increase of 86 percent compared to 2019. Türkiye accounts for more than three per cent of the UAE’s non-oil foreign trade and is our seventh largest trading partner. UAE investments in Türkiye amounted to almost Dhs18.3bn by the end of 2020, while the value of Turkish investments in the UAE amounted to Dhs1.1bn by the end of 2019. The UAE announced a $10bn investment fund in Türkiye and the signing of 72 cooperation agreements, highlighting this relationship’s positive trajectory.”

Sarah bint Yousef Al Amiri, Minister of State for Public Education and Advanced Technology, who also travelled to Türkiye, said: “Based on the directives of the UAE leadership, UAE-Turkish relations are flourishing across various sectors. The signing of the MoU between the UAE Space Agency and the Turkish Space Agency which includes space research and technology and joint studies on suborbital flights and satellite systems lies at the heart of the UAE’s efforts to build bridges for space exploration. Our joint efforts will help to expand the region’s contribution to humanity’s broader space exploration. I would like to take this opportunity to wish Turkiye every
success in its lunar mission next year.”

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