TİM Chairman Mustafa Gültepe: We will Elevate our Trade Volume with UAE to $25 Billion
Mustafa Gültepe, Chairman of the Türkiye Exporters Assembly (TİM), unveiled a bold vision to enhance the trade volume between the United Arab Emirates and Türkiye to an impressive $25 billion.
The announcement came during his attendance at the United Arab Emirates - Türkiye Business Forum in Abu Dhabi, which marked the final leg of President Recep Tayyip Erdoğan's Gulf tour. Underlining the importance of fostering the right partnerships between the two nations, Gültepe signed a significant memorandum of understanding with Rashid El Booshi, Undersecretary of Abu Dhabi Economic Development Department. The agreement paves the way for the establishment of joint working groups between TİM and the Abu Dhabi Economic Development Department. These groups will focus on increasing trade volume and bolstering economic relations.
Gültepe, while evaluating the Memorandum of Understanding, outlined an ambitious target of achieving a total export milestone of $600 billion by 2028, comprising $400 billion in goods and $200 billion in services. He emphasized the importance of both consolidating their market shares in existing territories and forging new commercial partnerships.
WE HAVE $10 BILLION OF TRADE WITH UAE
“In the ever-evolving landscape of global trade, we find ourselves amidst a period of transformative trends. Close sourcing and regionalization have emerged as the defining pillars of our time. As Türkiye, a pivotal production center in the region, we proudly offer a strong partnership to our neighboring nations within this context. Consequently, our trade relations with the Gulf countries hold exceptional significance. The United Arab Emirates, one of our most vital trade allies, accounts for an impressive $10 billion in trade, with $5.3 billion in exports and $4.5 billion in imports. The positive impact of the global and regional conjuncture, coupled with the normalization of our bilateral relations, fortifies our belief in a promising future. Now, the onus lies upon us to seize these favorable conditions and transform them into tangible commercial achievements. Embarking on a critical mission to enrich our countries, bound together by a rich history and shared culture, we embrace the principle of mutual benefit fostering a win-win partnership. As TİM, we stand ready to forge even closer cooperation with the Gulf countries, particularly with the United Arab Emirates. The signing of the Comprehensive Economic Partnership Agreement in March 2023 has paved the way for a long-term partnership, empowering us as producers and traders to explore boundless growth opportunities. With unwavering determination, we are confident that we will effortlessly reach the ambitious trade target of $25 billion within the next five years, as outlined in the agreement.”
Mustafa Gültepe added that as the Türkiye Exporters Assembly, they will visit Dubai again in September with a large delegation in line with the efforts to establish the right partnerships, and then they will host Dubai businessmen in İstanbul.