UAE, Turkey set to boost energy, tech ties

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The governments of UAE and Turkey have agreed to enhance cooperation and explore new areas for future collaboration, especially in the energy, industry and advanced technology sectors…reports Asian Lite News

A UAE delegation, led by Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, has concluded a two-day visit to Turkey on Thursday.

Dr. Al Jaber, who met with Turkish Minister of Industry and Technology, Mustafa Varank was accompanied by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, Sarah bint Yousif Al Amiri, Minister of State for Public Education and Advanced Technology, and other senior officials.

The visit also included meetings with senior government and private sectors officials as well as a UAE-Turkey Investment Workshop. Delegates discussed collaboration across the gas, energy infrastructure, renewable energy, healthcare, biotech, agri-tech, defense, logistics, digital communication, e-commerce and financial services sectors.

Dr. Al Jaber emphasised that the two countries share a clear vision for sustainable economic growth and continue to expand their relations; as highlighted by the visit of President His Highness Sheikh Mohamed bin Zayed Al Nahyan to Turkey at the end of 2021, and the visit of Turkish President Recep Tayyip Erdogan to the UAE in February that resulted in cooperation agreements worth millions of dollars to invest in Turkey, in addition to agreements and MoUs to boost cooperation across different fields that contribute to enhancing sustainable economic development.

Dr. Al Jaber invited Turkish companies to invest in the UAE’s industrial sector and benefit from industrial investment opportunities in petrochemicals, metals, pharma, medical equipment, electrical machinery, F&B, agri-tech, defense and space. Recently, the UAE held the Make it in the Emirates Forum, where leading national companies unveiled a set of industrial investment opportunities worth AED110 billion, comprising 300 products across 11 sectors.

“The UAE is a leader in the energy sector, both conventional and clean, petrochemicals, metals, defense, pharma, and F&B. Cooperation with Turkey in the energy, industry and advanced technology sectors, among others, indicates a strong commitment to increase joint investments. Our companies see opportunities in developing gas resources, energy infrastructure, renewable energy, healthcare, biotech, agri-tech, defense, logistics, digital communications, and financial services. While we are keen to expand our investments in Turkey, we also want to drive mutually beneficial partnerships for industrial investment in the UAE.”

For his part, Dr. Al Zeyoudi said, “The continued development of UAE-Turkey relations is a direct result of our leadership’s directives to strengthen global strategic partnerships. Our efforts led to our recent Comprehensive Economic Partnership Agreements (CEPA) with neighboring countries to enhance trade and economic cooperation and expand investments.”

He continued, “Our CEPA with Turkey will bring unique opportunities to enhance bilateral trade and investments, in line with all the UAE’s CEPAs. This visit will help to stimulate joint investments with Turkey, supporting our common interests. It is in line with both countries’ efforts to boost collaboration, double the volume of non-oil trade, incentivise mutual investments, and advance economic relations.

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As part of the visit, an agreement was signed between the UAE Space Agency and the Turkish Space Agency to boost collaboration in scientific fields, training, as well as knowledge and experience transfer.

During the UAE-Turkey Investment Workshop, the UAE delegation outlined investment opportunities across the UAE’s industrial value chain, with a focus on priority sectors that leverage the use of advanced technologies.

Turkey representatives gave a detailed explanation of the advantages of investing in the country through the Invest in Turkey initiative.

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