Erdogan: Boosting Trade with UAE to Reach $25 Billion in 5 Years

During the signing of the Comprehensive Economic Partnership Agreement between Turkey and the UAE, Turkish President Recep Tayyip Erdogan announced an increase in trade with the UAE to $25 billion over 5 years.

On December 13, 2022, the decision to ratify the Memorandum of Understanding on Energy Cooperation between Turkey and the United Arab Emirates, which entered into force, was published in the Official Gazette of Turkey.

Turkish President Recep Tayyip Erdogan ratified the memorandum of understanding concluded between the governments of the two countries on November 24, 2021 in the capital Ankara.

The Memorandum of Understanding aims to create a basis for developing cooperation and goodwill between the two countries in the field of energy and facilitating the exchange of technical information, advice, skills and experience.

As part of the memorandum, opportunities and challenges in the field of investment in oil and gas, production, processing and transportation will be discussed.

On November 24, 2021, Turkey and the UAE signed 10 agreements in various fields in the presence of President Erdogan and his guest, Crown Prince of Abu Dhabi (at that time), the current head of state, Sheikh Mohammed bin Zayed. Al Nahyan at the Presidential Complex in the capital Ankara.

Turkish Minister of Energy and Natural Resources Fatih Donmez and UAE Minister of Energy and Infrastructure Suheil bin Muhammad Al Mazroui signed a memorandum of understanding on energy cooperation between the two countries.

Source: RT+ Anatolia