Al Hussaini meets with Turkish Minister of Treasury and Finance

23 June 2023

His Excellency Mohamed Bin Hadi Al Hussaini, Minister of State for Financial Affairs, today welcomed His Excellency Mehmet Şimşek, Turkish Minister of Treasury and Finance, and his accompanying delegation. The meeting was held at the headquarters of the Ministry of Finance in Dubai and sought to discuss means of bolstering financial and economic relations and partnerships between the UAE and the Republic of Türkiye.

In attendance were His Excellency Younis Haji Al Khoori, Undersecretary of Ministry of Finance; and His Excellency Saeed Rashid Al Yateem, Assistant Undersecretary for Government Budget and Revenue Sector at Ministry of Finance; along with senior officials from both parties.

During the meeting, His Excellency Al Hussaini congratulated His Excellency Mehmet Şimşek on his appointment as Minister of Treasury and Finance of the Republic of Türkiye.

His Excellency Al Hussaini emphasised the UAE’s keenness to bolster bilateral relations with the Republic of Türkiye in various fields, particularly economy, finance, and investment, to contribute to advancing growth and prosperity in both countries. His Excellency said: “The UAE and the Republic of Türkiye enjoy robust strategic relations thanks to the support provided by the leadership of both countries. We aim that our strong ties contribute to achieving sustainable economic integration and serve the future directions of the two countries.”

Non-oil intra-trade increased by 40% to $18.9 billion in 2022, making Türkiye among the top 10 trade partners of the UAE with a share of more than 3% of the UAE’s non-oil foreign trade. The UAE’s direct foreign investments in Türkiye amounted to more than $5 billion, which puts the UAE among the top 15 countries investing in Türkiye.

In March 2023, presidents of both countries held a virtual summit, which witnessed the signing of a Comprehensive Economic Partnership Agreement (CEPA) between the UAE and the Republic of Türkiye. This agreement heralds a new path for sustainable development in both nations and contributes to stimulating mutual trade and investment opportunities.

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