Monday, March 4, 2024

The UAE-Turkey joint venture will take effect within two months


Minister of Foreign Affairs Dr. Thani bin Ahmad Al-Siodi confirmed that the UAE continues to expand its network of trading partners around the world by signing comprehensive economic partnership agreements, expecting to conclude additional agreements by the end of this year 2023. .

“Comprehensive Economic Partnership Agreements negotiations have seen significant progress with several countries of strategic importance on the international trade map, including Chile, Costa Rica, the Eurasian Union, Thailand and Ukraine,” he said.

Also, “The Emirati-Turkish Comprehensive Economic Partnership Agreement has been approved by the two governments, thus the negotiations on the partnership agreement with Vietnam have started a few days ago. .”

Al-Siodi, who signed the Comprehensive Economic Partnership Agreement with Cambodia, said, “The agreement with Cambodia is entering the phase of completing the usual technical and legal procedures in both countries in preparation for its ratification, and it will enter into force within 60 days after ratification,” the agreement is expected to enter into force. Before the last quarter of this year.

He added: “This agreement will contribute to providing better access to Emirati products while ensuring the entry of 71.3% of Emirati products in terms of the number of customs duty-free products from the first day of entry into the Cambodian market. The strength of the agreement, and covers more than 81% of imported goods and materials. UAE exports it to the world.

“The agreement with Cambodia provides the UAE with an important bridge into the heart of the fast-growing Asian economy,” said Al-Siodi.

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Bill Dittman
Bill Dittman
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