In a bold move to turbocharge one of the region’s fastest-growing economic alliances, the United Arab Emirates and the Republic of Türkiye convened the second session of the Joint Economic and Trade Commission (JETCO) in Abu Dhabi — solidifying what leaders on both sides are calling a “new era” of commercial cooperation.
This high-level meeting, building on the momentum of the first JETCO session held in Istanbul in 2023, aimed to supercharge trade, investment, and innovation, following the game-changing Comprehensive Economic Partnership Agreement (CEPA) that came into effect on September 1, 2023.
Co-chaired by Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and Ömer Bolat, Türkiye’s Minister of Trade, the session highlighted rapid progress since CEPA’s rollout — with non-oil trade between the two nations tripling since 2021.
“The Joint Economic and Trade Commission is a cornerstone of our strategy to elevate UAE-Türkiye economic relations,” said Dr. Al Zeyoudi. “CEPA has already yielded impressive results, and we are committed to unlocking even greater potential.”
Türkiye’s Minister Bolat echoed the optimism, revealing that Turkish companies have executed 149 projects worth $17.7 billion in the UAE, making the Emirates Türkiye’s 10th most important market globally for international projects.
“Through this meeting, we’ve taken real steps to grow mutually beneficial prosperity,” Bolat stated. “The UAE is, and remains, one of our most vital economic partners.”
Key focus areas during the JETCO included green economy, advanced technology, trade finance, halal accreditation, and joint projects in third countries—signaling both countries’ ambition to expand their economic footprint far beyond their own borders.
The Commission also hosted the inaugural meeting of the UAE-Türkiye CEPA Joint Committee, where officials reviewed the agreement’s performance, discussed tariff and quota adjustments, and proposed refinements for smoother implementation.
A high-level business roundtable followed the formal session, drawing influential voices from both countries’ private sectors to identify high-growth opportunities and investment synergies.
“CEPA opened the door,” said Al Zeyoudi. “But it’s the drive of our business communities that will ensure we march through it. Meetings like this are vital to discovering where the biggest opportunities lie.”
The latest JETCO meeting reinforces what is quickly becoming one of the most dynamic economic partnerships in the region — with shared ambitions in financial services, agriculture, logistics, tourism, and transport powering the way forward.
