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UAE’s non-oil trade with Turkey jumps 100% in H1-21

UAE’s non-oil trade with Turkey jumps 100% in H1-21
Photo Credit: WAM

UAE – Mubasher: The non-oil trade exchange value between the UAE and Turkey has surged 100% to AED 26.4 billion during the first half (H1) of 2021 compared to H1-20, according to a press release on Tuesday.

The two countries have generated AED 33 billion in non-oil trade exchange during 2020, an annual growth of 21% compared to 2019.

The UAE pumped approximately AED 18.4 billion in investments in Turkey at the end of last year.

Meanwhile, Turkish investors allocated more than AED 1.3 billion in the Gulf country until the beginning of 2020.

Gold, accessories, and jewellery have been on top of goods traded between the UAE and Turkey over the past decade.

The GCC country comes as the 12th global partner for Turkey, while the latter ranks the 11th for the UAE.

These statements came during a meeting on the sidelines of the Joint Economic Commission between the two countries, where the committee approved the renewal of the Turkey-UAE Business Council agreement.