Gökhan Ergöçün
31 October 2023•Update: 31 October 2023
ISTANBUL
Türkiye aims to complete the Development Road Project, set to connect the Persian Gulf to Europe via Iraq and Türkiye as soon as possible, the country's trade minister said on Tuesday.
"We are determined to cooperate with the United Arab Emirates, Iraq, Qatar and, if it accepts, Saudi Arabia, in the Development Road Project and to complete this project as soon as possible," Omer Bolat said at the Türkiye-UAE Business Forum in Istanbul.
The project, which will connect the countries via railways, roads, and ports, will shorten the time for logistics and reduce costs, he said.
The year of 2023 was a milestone for Türkiye and the UAE, when the parties signed a comprehensive trade deal, according to the Turkish minister.
The bilateral trade volume between Türkiye and the UAE was at $10 billion last year and topped $14 billion during the January-September period this year, Bolat said.
"$15 billion target, which was set for a five-year period, was reached in just two years, the $25 billion target will also be reached in a couple of years," he pledged.
Officials and delegations from Türkiye and the UAE met during the forum in different sessions, he said.
A memorandum of understanding was also signed between the two countries to strengthen bilateral relations, he added.
Thani bin Ahmed Al Zeyoudi, the Emirati trade minister, said Türkiye and the UAE's trade and investment relations have been improving and they will be stronger in the coming period.
The boosted ties between the two countries are beneficial for the region and the world, he said.
Türkiye, he said, is one of the top 10 foreign trade partners of the UAE, adding that it is also an important strategic partner for the Emirati private sector.
The forum was organized by Türkiye's Foreign Economic Relations Board (DEIK) in cooperation with the Turkish Trade Ministry and the Emirati Economy Ministry.
