Presidents of UAE, Turkey witness signing of Comprehensive Economic Partnership Agreement

Presidents of UAE, Turkey witness signing of Comprehensive Economic Partnership Agreement

The deal aims to achieve growth by eliminating or reducing customs duties on 82 per cent of goods and products

The President, His Highness Sheikh Mohamed bin Zayed Al Nahyan, delivers a virtual speech during the UAE-Türkiye Comprehensive Economic Partnership Agreement (CEPA) signing ceremony. - WAM

By WAM Published: Fri 3 Mar 2023, 10:04 PM Last updated: Fri 3 Mar 2023, 10:15 PM

The President, His Highness Sheikh Mohamed bin Zayed Al Nahyan and Recep Tayyip Erdogan, President of Turkey, witnessed the signing of a Comprehensive Economic Partnership Agreement (Cepa) between both nations during a virtual summit on Friday.‏

Abdulla bin Touq Al Marri, UAE Minister of the Economy, and ‏Mehmet Mus, the Turkish Minister of Trade, signed the agreement, heralding a new era of bilateral cooperation between the two countries. The pact contributes to stimulating trade, increasing the flow of investment and creating joint opportunities in priority sectors.

The Cepa with Turkey is the fourth of its kind to be concluded by the UAE as part of its global economic agreements programme, following similar agreements with India, Israel, and Indonesia.

The UAE-Turkey Cepa aims to achieve mutual benefits for both countries and stimulate long-term, sustainable, and comprehensive economic growth by eliminating or reducing customs duties