The Comprehensive Economic Partnership Agreement between UAE and Turkiye aims to achieve “strategic goals,” especially increasing bilateral trade volume, the Gulf country’s press office said on Saturday, reports Anadolu Agency.
In a statement on Twitter, the UAE government’s media office said the deal contributes to creating a promising atmosphere, which will encourage fruitful cooperation in the business world, and benefit people and economies of the two countries.
The two countries signed the agreement on Friday to boost bilateral trade.
Trade volume between Turkiye and the UAE will reach $25 billion in five years thanks to the new deal, Turkish President Recep Tayyip Erdogan said at the signing ceremony via video link on Friday.
UAE President Sheikh Mohamed bin Zayed Al Nahyan said the agreement “builds on our longstanding ties to deliver further growth, opportunity & stability for our countries & our people.”