The European Union must forge stronger links with Turkey to help secure a greater role in the Middle East peace process, a leading German diplomat said at a virtual webinar on Tuesday.
Wolfgang Ischinger, chairman of the Munich Security Conference, who served as German ambassador in Washington from 2001 to 2006, told Mohammed Alardhi, executive chairman of Bahrain-based alternative asset manager Investcorp, it was in the EU’s interest to improve relations with Turkey.
“We don't do it for the sake of Turkey, we do it for ourselves," said Mr Ischinger, who also served as ambassador in London, former deputy foreign minister for Germany and sits on Investcorp's international advisory board.
“I cannot imagine how we, the EU, could conduct a meaningful role in the greater Middle East if we tried to do it against our big neighbour Turkey. We need Turkey on our side if we want to play a role in Iran, in Syria and in the other conflict regions of the world. We should not abandon Turkey but keep the door open.”
Mr Ischinger's comments came as tension between Palestine and Israel escalated this week after Israeli efforts to expel scores of Palestinian families from an East Jerusalem neighbourhood. On Monday, Israeli police stormed Al Aqsa Mosque and more than 720 Palestinians were injured in the resulting clashes.
Mr Ischinger said the conflict was concerning and he regretted “more than anything else” the EU’s failure to play a more active role in the Middle East peace process.
“We, in the EU, have tended to be seen as bystanders rather than as active shapers and helpers and participants in an effort to help bring peace to this region in particular," he said.
“The European absence from peacemaking efforts in Syria, or Libya and other regional crises over the last decade or so is extremely worrisome. I hope that Europe will begin to understand that if we don't manage to play a more proactive role in Middle East war and peace issues, the unrest, the extremism, the terrorism, the fallout of these conflicts will tend to come our way.”
While Mr Ischinger described the EU’s relationship with Turkey as “fairly bad”, that may not be the case in the future, he said.
“In terms of future membership of Turkey in the EU, the perspectives are dark and practically non-existent but it is very possible for me to imagine that in the next couple of years that could change again,” he said.
“President Erdogan is used to winning every election. According to the polling, there is now growing opposition in the country. Where will he need to go if he needs help to bolster his own economy? He will need once again to turn to these partners in Europe. So, if you accept the principle of strategic patience, my advice would be ‘let's not abandon Turkey’.”
Germany this week sought to offer a European olive branch to Turkey, telling Ankara that it could send a positive signal to the EU by pulling its troops out of Libya.
A personal feud between French President Emmanuel Macron and his Turkish counterpart Recep Tayyip Erdogan was developing into a long-term geopolitical rivalry between the two countries, a new report from the French Institute of International Relations said.
The pair have clashed over a series of issues, including Libya, Syria, the Eastern Mediterranean and cartoons of the Prophet Mohammed.
Mr Ischinger said he had always been against the EU’s decision to end negotiations about Turkish membership.
"President Erdogan will not be the president of Turkey for the next 200 years,” he said. “There will be a successor at some time, and the possibility exists that Turkey will once again turn more to Europe, and we should offer Turkey this opportunity.”
He said Europe needed to engage in the Middle East peace process and recognise the region as one of the strongest trading and economic blocs in the world.
“Too often, we seem too divided on how to bring to bear the rational voice, the peace voice of the EU," Mr Ischinger said.
"This is really a wake-up call that I hope will remind Europeans that we should not stand aside as conflicts break out again.”
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Also on December 7 to 9, the third edition of the Gulf Car Festival (www.gulfcarfestival.com) will take over Dubai Festival City Mall, a new venue for the event. Last year's festival brought together about 900 cars worth more than Dh300 million from across the Emirates and wider Gulf region – and that first figure is set to swell by several hundred this time around, with between 1,000 and 1,200 cars expected. The first day is themed around American muscle; the second centres on supercars, exotics, European cars and classics; and the final day will major in JDM (Japanese domestic market) cars, tuned vehicles and trucks. Individuals and car clubs can register their vehicles, although the festival isn’t all static displays, with stunt drifting, a rev battle, car pulls and a burnout competition.
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1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
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