07 February 2017•Update: 08 February 2017
By Tuba Sahin
ANKARA
Senior Turkish and U.A.E. officials discussed economic and trade relations at a high-level meeting in Ankara on Tuesday.
The ninth Turkey-U.A.E. Joint Economic Committee brought Sultan bin Saeed al-Mansouri -- the U.A.E. economy minister -- to the Turkish capital to meet Deputy Prime Minister Mehmet Simsek.
Trade volume between the two countries increased 36 percent in the last 12 months despite total global trade increasing only 1.7 percent, said Simsek.
"We will work to expand the volume of mutual investment," he added.
Simsek also said the countries wanted to improve cooperation in the halal food sector within the Organization of Islamic Cooperation standards.
"We hope that the products, which are approved by Turkish halal institutions, will enter the U.A.E. market without any additional accreditation by ensuring the improvement of halal trade among Islamic countries and overcoming technical obstacles," Simsek said.
The Turkish minister said he invited investors from the U.A.E. to see Turkish privatization projects in sectors such as mining, electricity generation, sugar processing plants and ports.
Sultan bin Saeed al-Mansouri said a free trade agreement between Turkey and Gulf countries would help regional development.
“Stability in the region is important for us. Economic development in the neighboring countries is vital. A FTA will help this," Mansouri said.
Turkey’s exports to the U.A.E., one of the richest countries in the Gulf region, stood at $5.4 billion.
