Murat Efe, founder and chairman of the Turkish-Arab Economic Forum, stated that Türkiye-Arab economic relations are continuously developing, with trade between the two sides exceeding AED200 billion ($54.45 billion) in 2024.
In a statement to WAM on the sidelines of the World Government Summit 2025, Efe added that the Comprehensive Economic Partnership Agreement between the UAE and Türkiye contributed to an 11 percent increase in trade between the two countries in 2024. In addition, it contributed to strengthening mutual investments in the solar and hydroelectric energy sectors, as well as aviation.
Foreign trade surge supports Türkiye’s GDP growth
Efe highlighted that the Turkish-Arab Economic Forum focuses on enhancing economic relations with the Gulf Cooperation Council (GCC) countries and North Africa. He noted that more than 80 percent of Türkiye’s foreign trade is with Central Asia, the Middle East, Europe and North Africa.
He also noted that Türkiye’s GDP is approaching $1.2 trillion and that 80 percent of its foreign trade reflects a clear expansion in its economic relations, adding that Türkiye will focus on integrating advanced technologies into industry and aviation in the coming period.
Notably, the UAE-Türkiye CEPA aims to achieve mutual benefits for both countries and stimulate long-term, sustainable, and comprehensive economic growth by eliminating or reducing customs duties on 82 percent of goods and products, representing more than 93 percent of non-oil trade. Additionally, the agreement improves market access to Türkiye for exporters from the UAE, including major sectors such as construction, metals and their products, polymers, and other manufactured products.
It is expected that the agreement will contribute to increasing non-oil bilateral trade to $40 billion annually within five years, while also creating 25,000 new job opportunities by 2031.
UAE and Türkiye seek stronger ties
On the sidelines of the World Governments Summit 2025, H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, met with Mehmet Şimşek, Minister of Treasury and Finance of Türkiye.
During the meeting, Sheikh Maktoum emphasized the UAE’s commitment to strengthening economic ties with Türkiye, in line with its vision to build a network of strategic global partnerships that foster sustainable economic growth. He highlighted the importance of international collaboration in addressing shared challenges and advancing sustainable development — key themes of the World Governments Summit.
Discussions focused on expanding UAE-Türkiye collaboration across key sectors, particularly trade, tourism and investment. Sheikh Maktoum highlighted the UAE’s investor-friendly ecosystem, supported by robust infrastructure, progressive legislation, and a stable economic environment that facilitates business growth and fosters both strong public-private and international partnerships.
Previously, Ahmet Burak Daglioglu, head of the investment office of the Turkish Presidency, said that the cumulative foreign direct investment from the UAE to Türkiye surged to $5.6 billion from 2002 through August 2023. The UAE stood as Turkiye’s 13th largest trade partner for exports and the 15th largest for imports, resulting in a combined trade volume of approximately $10 billion through 2022.
He underscored Turkiye’s consistent attraction of UAE investments, particularly in sectors such as energy, healthcare, agriculture, logistics, transport, infrastructure, finance and tourism. Additionally, both nations are collaborating in areas such as climate change, energy, water and food security.
