UAE becomes Türkiye’s 5th-largest trade partner
The Embassy of the United Arab Emirates (UAE) in Ankara held a reception to celebrate the 53rd anniversary of the UAE's establishment. Minister of Treasury and Finance Mehmet Simsek attended the program and made a speech. (AA Photo)
On the occasion of the UAE’s 53rd National Day, Türkiye’s Minister of Treasury and Finance, Mehmet Simsek, revealed that the United Arab Emirates (UAE) has become Türkiye’s fifth-largest trade partner.
Speaking at a reception held in Ankara to celebrate the UAE’s National Day, Simsek emphasized the strong economic relationship between the two countries and expressed his hope for continued growth in trade.
Key diplomatic and economic milestones
The reception, which was attended by key figures including UAE Ambassador to Ankara Said Sani ez-Zahiri, Minister Simsek, and Mustafa Varank, Chairman of the Industry, Trade, Energy, Natural Resources, Information and Technology Commission in the Turkish Parliament, marked the deepening of bilateral ties.
Ambassador Zahiri noted that the UAE-Türkiye relationship has seen significant progress, particularly in the diversification and growth of economic and trade relations.
“In 2023, we reached a milestone with a 103.7% increase in non-oil trade volume between our countries, totaling $20 billion,” Zahiri stated.
“This growth has made Türkiye the UAE’s fastest-growing trade partner and the sixth-largest globally, accounting for over 5% of the UAE’s total foreign trade,” he added.
Türkiye and UAE strengthen economic ties
Minister Simsek highlighted that the UAE has become one of Türkiye’s most strategic partners, with excellent political relations that continue to strengthen.
He pointed out the formation of a high-level strategic council in 2023 under the leadership of Turkish President Recep Tayyip Erdogan and UAE President Mohamed bin Zayed, which further elevated the level of bilateral ties.
Simsek also underlined the importance of trade diversification, noting that Türkiye aims to maintain this growth by expanding the variety of goods and services exchanged. “We want to sustain this increase by diversifying our trade,” he added.
“Through mechanisms like the Free Trade Agreement and the Joint Economic Commission, we are able to collaborate on projects spanning sectors such as healthcare, tourism, agriculture, and energy,” he concluded.
