RIYADH: The UAE and Turkey are in final talks regarding the launch of a comprehensive economic partnership agreement, according to the UAE’s minister of state for foreign trade, Thani bin Ahmed Al Zeyoudi.
Not only will the new partnership double bilateral trade between both countries, but it will strengthen cooperation efforts, create new jobs, and boost the resilience of domestic supply chains.
The partnership will also pave the way for constructive cooperation as it will propel business activities between both parties by cutting tariffs, facilitating capital flows, and removing trade barriers.
Al Zeyoudi said that he is currently in Istanbul exploring untapped opportunities for UAE importers and exporters.
Bilateral trade between the UAE and Turkey has climbed 80 percent over the past three years.
An online meeting was also held between Turkish Finance Minister Nureddin Nebati and his Saudi counterpart Mohammed Al-Jadaan.
The pair discussed ways to improve economic cooperation and exchanged views on trade and areas of investment, Nebati said on Twitter.
Reuters reported Tuesday that President Tayyip Erdogan is planning a visit to Riyadh on Thursday in a push to mend ties.