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UAE and Turkey constitute a strategic economic power that can overcome the impact of global financial crises

By UAE Interact | 1 Feb 2012

Sultan bin Saeed Al Mansoori, UAE Minister of Economy, and Mehmet Simsek, Minister of Finance of the Republic of Turkey, yesterday in a joint statement stressed the importance of the visit by Abdullah Gul, President of the Republic of Turkey, to the UAE, which contributes to the strengthening of bilateral relations, particularly economic ties.

The statement also said that Turkey and the UAE constitute a strategic economic power in the Middle East which will allow both countries to overcome the impact of financial crises that can affect the whole world, including those in US and Europe.

The statement came on the sidelines of the opening by the Turkish President of the UAE-Turkish Business Forum, organised by the Dubai Chamber of Commerce and Industry in cooperation with the UAE-Turkey Business Council, at the Jumeirah Beach Hotel.

Al Mansoori stressed the strategic importance of this visit, which comes as the world faces significant economic challenges. He emphasised the importance of closer bilateral relations between the two countries and the consolidation of joint efforts to face global challenges efficiently.

For his part, the Turkish Minister of Finance emphasised the importance of the visit by the Turkish President that contributes to strengthening social, cultural and economic ties between the countries. He said that that there are many strategic opportunities in both countries that must be seized to promote an exchange of investment and increase trade to achieve the common goal of both countries, and increase the level of trade to US$10billion by 2015.

Al Mansoori also stressed the importance of the topics addressed by the Turkish President in a speech yesterday at the Forum. The President said that there is harmony in the cultures between the two friendly countries and there are many senior business people who live in the UAE and who have established businesses that have contributed to the economic boom of the UAE in general and the Emirate of Dubai in particular. The President considers that a positive step to build prosperous co-operation between the two countries at all economic, social and cultural levels.

Al Mansouri emphasised the unique investment environment in the UAE, one which is supported by a culture of innovation and advanced infrastructure, coupled with a sophisticated business environment that has encouraged many global companies to set up their regional headquarters in the UAE.

The Turkish Minister said that the UAE, as a gateway to the world, is a strategic partner for Turkey in the Middle East.

Al Mansoori said that the eighth session of the joint committee meetings held in Abu Dhabi last February had achieved positive results that will contribute to strengthening bilateral relations between the two countries, especially in trade and investment, noting that the two countries confirmed their intention to increase the volume of bilateral trade and access to the level of US$10 billion by the end of 2015.

Both sides stressed the importance of following up what has been agreed upon in the final statement of the Joint Economic Committee, where the two sides will submit a progress report every six months on implementing what was agreed upon. - Emirates News Agency, WAM.



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