Turkish trade delegation meets UAE officials on trade ties

DUBAI, United Arab Emirates (AA) – A Turkish trade delegation held talks with officials in the United Arab Emirates (UAE) on ways of boosting trade cooperation between the two countries, according to the UAE state news agency WAM on Sunday.

The talks, which were headed by UAE Minister of State for Foreign Trade Thani bin Ahmed Al-Zeyoudi and Tawfiq Oz, head of the Turkish-UAE Business Council, were held on the sidelines of the Expo 2020 in Dubai, the agency reported.

Both sides discussed economic plans of common interest and agreed on practical steps to develop trade exchange and economic cooperation between the two countries, WAM said.

The Emirati official briefed the Turkish delegation on the UAE's economic environment and investment liberalization in the Gulf state, which allows foreign ownership of companies, with only few exceptions of economic activities that have strategic impact on the state.

In August, Turkish President Recep Tayyip Erdogan met with the UAE's National Security Adviser, Sheikh Tahnoun Bin Zayed Al-Nahyan, to discuss UAE investments in Turkey.

Following the meeting, Erdogan said that the UAE is serious about making major investment plans in Turkey.

The non-oil trade exchange between Turkey and UAE witnessed a growth of 21% in the past year with $8.9 billion, compared to $7.3 billion in 2019.

* Writing by Ahmed Asmar in Ankara