Thani Al Zeyoudi, the UAE’s Minister of State for Foreign Trade, recently commented on the Comprehensive Economic Partnership Agreement signed between the UAE and Türkiye. In his remarks, Al Zeyoudi highlighted the importance of the agreement and its potential to create significant employment opportunities and foster growth in numerous sectors, including food security, healthcare, information technology, finance, and logistics.
UAE and Türkiye Committed to Expanding Trade Relations
Despite geopolitical tensions in the region, Al Zeyoudi expressed the UAE’s commitment to expanding trade relations with Türkiye. He noted that the two countries have already achieved substantial growth in bilateral trade, with non-oil trade reaching approximately $18.9 billion last year. Al Zeyoudi also stressed that the UAE has already invested over $5 billion in Türkiye and is willing to increase its investments in the country.
Focus on Improving Logistics and Sustainable Energy
Al Zeyoudi also discussed the progress being made in the logistics sector, with the UAE and Türkiye exploring new routes to shorten shipping times and reduce costs. The two countries are also discussing potential collaboration on renewable energy projects, including green hydrogen.
UAE Seeks to Expand Access to New Markets
Finally, Al Zeyoudi emphasized the UAE’s interest in collaborating with Türkiye to expand access to new markets, particularly in Asia and Africa. He highlighted the importance of working together to explore opportunities in these regions and stated that there are no limits to the potential of UAE-Türkiye relations.
Why Countries Consider Türkiye as a Good Place to Invest?
One of the main reasons why countries see Türkiye as a good place to invest is its strategic location. Türkiye sits at the crossroads of Europe and Asia, making it a natural gateway between East and West. This unique location provides access to a market of over 1.5 billion people, making Türkiye an attractive destination for businesses looking to expand their reach.
Large and Growing Market
Another reason why Türkiye is an attractive destination for investors is its large and growing market. With a population of over 80 million people, Türkiye is the world’s 18th most populous country. The country’s young and educated workforce, coupled with a growing middle class, presents a significant opportunity for businesses looking to tap into a rapidly expanding consumer market.
Türkiye has implemented a number of reforms over the years aimed at improving its business climate. These reforms have included simplifying the tax system, reducing bureaucracy, and implementing investor-friendly policies. As a result, Türkiye is consistently ranked as one of the easiest countries to do business in, making it an attractive destination for investors.
Competitive Labor Costs
Türkiye’s labor costs are highly competitive compared to other countries in the region, making it an attractive destination for businesses looking to reduce their production costs. The country’s highly skilled and motivated workforce is also a significant advantage, with a large pool of young, educated, and multilingual talent available to businesses.
Türkiye has invested heavily in its infrastructure over the years, including transport, energy, and telecommunications. The country’s well-developed infrastructure provides businesses with the necessary resources to operate efficiently and effectively.
Finally, the Turkish government offers a range of incentives to businesses looking to invest in the country. These incentives include tax breaks, low-interest loans, and grants. The government also offers support for research and development, making it an attractive destination for businesses looking to innovate.
In conclusion, Türkiye’s strategic location, large and growing market, business-friendly environment, competitive labor costs, strong infrastructure, and government incentives make it an attractive destination for businesses looking to invest in the region.