Türkiye is expanding relations with the Gulf countries, the trade volume is increasing.
The process has been completed in the “Comprehensive Economic Partnership Agreement” between the United Arab Emirates and Turkey. The target is a trade volume of 25 billion dollars in 5 years.
Significant gains were achieved in Turkey’s competitive items.
Special taxes and exemptions were introduced for many sectors, especially automotive, white goods, petro-chemical products, textile, carpet, shoes and electronics.
Turkey’s largest trade partner in the Gulf with 10 billion dollars
The agreement is also important in terms of achieving expansions towards third countries in new cooperation with the countries of the region.
The agreement is expected to contribute to the increase of regional trade and the creation of new production areas.
The United Arab Emirates is Turkey’s largest trading partner in the Gulf region, with $10 billion.