Turkish President's visit to UAE will open new economic cooperation avenues between two countries

Abu Dhabi, Jan 29, 2012 WAM) - The state visit of Turkish President Abdullah Gul to the UAE today will usher in new horizons for joint cooperation between the UAE and Turkey in the economic, trade and investment areas, thanks to distinguished ties between the leadership and peoples of the two countries. The visit of Turkish President to the UAE is the first of its kind for the Turkish President in 15 years. He will be accompanied by a delegation of 100 businesspersons. The UAE- Turkish Business Forum will be held in Dubai on Jan. 31. Turkey takes part annually in about 120 exhibitions held in the UAE. About 9, 000 Turkish citizens reside and work in the UAE, especially in the sectors of construction, tourism and transport. In 2011 Turkey received 35, 579 Emirati tourists, up by 16, 7 per cent compared to the previous year. There are 500 Turkish Companies actively operating in the UAE market, notably, the Turkish construction companies. Meanwhile, more Turkish companies are looking forward to more new projects in the UAE. The competent authorities in both countries described the relations between the two countries as cordial and based on mutual respect the two countries had pledged to increase the volume of trade exchange to US$10billion in 2010. The total volume of Turkish investments in the UAE stood at about US$6billion, mostly in the construction sector. Meanwhile, the UAE investments in Turkey are US$3billion. - Emirates News Agency, WAM