STRENGTHENING ECONOMIC TIES BETWEEN TÜRKİYE AND THE UNITED ARAB EMIRATES

The 1984 Economic and Technical Cooperation Agreement, the 1994 Agreement on the Avoidance of Double Taxation, and the 2005 Agreement on the Promotion and Protection of Reciprocal Investment have been the main cornerstones in promoting trade and investment relations between the two countries ( Republic of Türkiye Ministry of Foreign Trade, 2022). [...] Economic relations between the UAE and Türkiye entered a new phase with the strategic visit of UAE President Sheikh Mohamed bin Zayed Al Nahyan to Türkiye in November 2021 and the visit of Turkish President Recep Tayyip Erdoğan to the UAE in February 2022 (UAE Embassy, n.d.-a). [...] The establishment of a Joint Economic and Trade Commission (JETCO), digital transformation initiatives, projects to improve progress in the energy and raw materials sectors, and cooperation on vehicle capacities for space exploration are among the key points of the agreements and memoranda of understanding. [...] The following sections examine the historical trade and investment relationship between the UAE and Türkiye, as well as developments in the tourism sector and current economic developments. [...] In addition, the planned comprehensive economic partnership agreement related to the reconstruction of Ukraine and joint investments in Africa underscore the growing potential for expanding bilateral trade, investment and strategic cooperation between Türkiye and the UAE.