Apart from being the regional business hub in the Middle East and a gateway to major economies in the world, the UAE’s well planned strategic measures have made it an attractive investment destination.
United Arab Emirates embarks on its post-Golden Jubilee period and lays the strategic foundations for the next 50 years, it seems to be focusing more on diplomatic solutions and soft power to consolidate its economic interests and trade partnerships.
The Turkish Embassy in the UAE was opened in 1979, following the foundation of the UAE in 1971, whereas the UAE opened its Embassy in Türkiye in 1983. Both country share extensive cultural, military and economic ties, but relations have substantially deteriorated since Arab Spring, however, relations did start to recover in recent years.
UAE and Turkey signed an agreement in Abu Dhabi on Friday which aims to increase trade between the two countries to $40 billion in the next five years, according to UAE projections.
Domestic issues are also a force behind the warming of Turkish-UAE relations. The pandemic created and exposed economic issues that must be addressed and both countries understandably want to focus inward to resolve these.
UAE -Korea
The UAE-South Korea bilateral cooperation is enhancing in many areas, especially in renewable energy, infrastructure, health and medicine, future-oriented technology and innovation. Korean companies have been seeking to retain and expand their business activities in the region as Korea increases its strategic engagements in the UAE and its economic partnership with the region will continue to blossom.
South Korean Foreign Direct Investments (FDIs) in the UAE stood at US$2 billion as of 2019, UAE’s investments in South Korea were to the tune of US$637 million as of 2020, especially in major sectors such as oil and gas, real estate, automotive equipment, manufacturing, coal, and entertainment.
UAE - US
the US is among the most important strategic partners for the UAE. Our relationship dates back to our founding in 1971, when the US became one of the first countries to establish formal diplomatic relations with us. Through the vision of our leaders, the UAE today has built one of the most advanced nations in the world, one which is reinforced through our diplomatic ties with other countries. heart of this long-term partnership are tireless efforts by UAE leadership and the US administration to promote regional security, economic prosperity and address pressing global issues
The US and UAE relationship stands as a testament to this philosophy. UAE is the US’s number one trading partner in the Middle East and a key ally on issues ranging from business and the arts to security and counterterrorism.These long-term efforts come to life in public diplomacy initiatives in cities throughout the US, such as New York.
New York is increasingly important as the US-UAE relationship continues to expand. Through the consulate, we have forged new partnerships and engaged the community on a number of fronts
UAE-Iran
United Arab Emirates has long viewed Iran’s regional expansion as one of the greatest threats to its national security, especially because of Iran’s potential possession of nuclear weapons. Differences between the UAE on the one hand and Iran, Turkey, and Qatar on the other remain strong. However, the UAE is beginning to realize that the lack of a healthy bilateral dialogue with regional powers will make progress towards de-escalation much harder. However, by its rapprochement with Iran the UAE is employing a more pragmatic approach in the conduct of its foreign policy to ensure its national security. The country acknowledges, after a decade of regional conflict and proxy politics, that the divergent policies of regional players should not prevent diplomatic cooperation.
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I Ashiq Moideen;holds a Master of Business Administration (MBA) in International Business and Marketing from VMRF College (Chennai) and a Bachelor of Engineering (Hons) in Civil Engineering from VMRF (Chennai).
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