Turkiye-UAE agreement to create 125,000 jobs

The economic partnership agreement signed between Turkiye and the United Arab Emirates (UAE) is expected to create 125,000 jobs in Turkiye and the UAE, says Saeed Thani Hareb Al Dhaheri, UAE ambassador to Ankara.

The Turkiye -UAE Comprehensive Economic Partnership Agreement (CEPA) signed in March will take effect on Sept. 1.

The UAE is particularly interested in renewable energy, finance and technology investments in Turkiye.

“The agreement paves the way for mutual investments and creates new business opportunities. We expect the agreement to create 100,000 jobs in Turkiye and 25,000 jobs in the UAE over a time span of 10 years,” the enjoy said.

The UAE is a leading country in the fields of energy, petrochemicals, minerals, defense technologies, pharmaceuticals and food, he noted,adding that cooperating in those fields with Turkiye is very important.

“The CEPA will help implement strategic projects between the two friendly countries.”

Talks between the delegations are ongoing, the envoy said, adding that once the agreement takes effect, businesspeople from the two countries will see the opportunities and seize them.

The UAE plans joint investments in renewable energy and benefit from Turkiye’s experience in this field, he said, noting that a company from the UAE already invested in a Turkish company.

Last year, Abu Dhabi’s IHC bought a 50 percent stake in clean energy firm Kalyon Enerji.

The cooperation between Turkiye and the UAE will also be beneficial to the entire region, the envoy stressed.

“We are working on the investment opportunities. We are looking at renewable energy, cooperation in finance, fintech, which is very important to us, and hydrogen technologies,” he said.


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