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Last week, at the third business forum held in Abu Dhabi by the Foreign Economic Relations Board (DEIK), it was reported that cooperation between Türkiye and the United Arab Emirates (UAE) for the development of commercial and technological infrastructures will be made. At the UAE-Türkiye Business Forum, where Industry and Technology Minister Mehmet Fatih Kacır also participated, Minister Kacır; He stated that “With the Agreement on the Mutual Promotion and Protection of Investments, a legal basis has been established to create a transparent investment environment for investors and that economic relations will be carried forward by strengthening the mutual investment climate”.
In the United Arab Emirates (UAE), which has the second largest economy in the region after Saudi Arabia with a national income of 400 billion dollars in the Gulf regions, the per capita income is around 35 thousand dollars. 40 percent of its exports are re-reexport and 30 percent is the carbon sector. In addition, the country has imports of around 250 billion dollars. Therefore, mutual agreements to be made with the UAE in the group of gulf countries will have high returns for Türkiye in terms of infrastructure and technology.
Trade agreements between Türkiye and the UAE have made significant progress in the last 20 years. While the annual average trade volume between the two countries is 8 billion dollars, developments in foreign policy have also changed the course of direct investments from the UAE to Türkiye.
High-level relationships will be established
Thanks to its young population, entrepreneurial business approach, talented engineer pool, technology-oriented structure and competitive service power, Türkiye attracts the attention of investors in the region Therefore, the dimensions of the relations differ in terms of sectoral investments.
In this context, Minister of Industry and Technology Mehmet Fatih Kacır stated that the Memorandum of Understanding on the Development of Common Launch Vehicle Capabilities for Commercial Purposes was signed in the past; "With this agreement, it is aimed to increase the share of the two countries in the developing space economy. Thanks to the strategic cooperation that will be formed in this way, the opportunities for the establishment of a joint launch base and the development of a launch vehicle will increase even more with these studies and projects, relations between Turkey and the UAE will continue at the highest level." He used his expressions.
It is thought that direct talks between Turkish and UAE companies will begin in the coming periods. And after these meetings, it is said that investors from the UAE will make significant investments in areas such as energy, health, telecommunications, infrastructure, technology, agriculture and food in Türkiye.
Reference: https://www.sanayi.gov.tr/medya/haber/turkiye-ile-bae-arasinda-uzay-ve-yapay-zeka-is-birligi
