UAE and Türkiye Report Major Milestones in Economic Partnership at JETCO Talks

The United Arab Emirates and Türkiye convened the second session of the Joint Economic and Trade Commission (JETCO) in Abu Dhabi, reaffirming their commitment to deepening bilateral economic ties and advancing the goals of the Comprehensive Economic Partnership Agreement (CEPA), which officially took effect on September 1, 2023.

In a joint statement, both sides celebrated a 11.5% increase in non-oil trade in 2024, reaching $40.5 billion—a key CEPA target achieved three years ahead of schedule. As a result, Türkiye is now the UAE’s fourth-largest non-oil trade partner, climbing from seventh place in 2021.

Non-Oil Trade Triples Since 2021

UAE Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi, and Türkiye’s Minister of Trade, Ömer Bolat, highlighted the remarkable threefold growth in bilateral non-oil trade since 2021, attributing it to accelerated cooperation following CEPA implementation.

The JETCO session addressed key sectors such as:

• Trade and trade finance

• Foreign investment

• Green economy and sustainability

• Advanced technology and industrial development

• Regulatory alignment and Halal accreditation

• Joint ventures in third-country markets

“The Joint Economic and Trade Commission is a cornerstone of our strategy to elevate UAE-Türkiye economic relations,” said Al Zeyoudi.
“Our collaboration under CEPA has delivered outstanding outcomes, and we’re committed to deepening this partnership to unlock its full potential.”

Turkish Firms Undertake $17.7B Worth of Projects in the UAE

Minister Bolat emphasized the growing role of Turkish companies in the UAE, noting they have undertaken 149 major projects valued at $17.7 billion to date—making the UAE Türkiye’s 10th largest international project market.

“The UAE remains one of our most important economic partners. Through this meeting, we’re building long-term prosperity for both nations,” Bolat stated.

Business Roundtable Explores New Investment Opportunities

The JETCO session concluded with a high-level business roundtable, featuring leading investors and corporate representatives from both countries. Discussions focused on identifying high-potential opportunities in trade, investment, and joint ventures.

“CEPA has opened the door, but it is the private sector that must lead the way,” Al Zeyoudi said.
“Gatherings like this ensure we identify the right opportunities—and work together to unlock them.”