Türkiye aims to complete Development Road Project as soon as possible: Trade minister

Published October 31,2023

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Türkiye goals to finish the Development Road Project, set to attach the Persian Gulf to Europe by way of Iraq and Türkiye as quickly as potential, the nation’s commerce minister mentioned 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 mentioned on the Türkiye-UAE Business Forum in Istanbul.

The mission, which is able to join the international locations by way of railways, roads, and ports, will shorten the time for logistics and cut back prices, he mentioned.

The yr of 2023 was a milestone for Türkiye and the UAE, when the events signed a complete commerce deal, in keeping with the Turkish minister.

The bilateral commerce quantity between Türkiye and the UAE was at $10 billion final yr and topped $14 billion in the course of the January-September interval this yr, Bolat mentioned.

“$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 in the course of the discussion board in numerous periods, he mentioned.

A memorandum of understanding was additionally signed between the 2 international locations to strengthen bilateral relations, he added.

Thani bin Ahmed Al Zeyoudi, the Emirati commerce minister, mentioned Türkiye and the UAE’s commerce and funding relations have been bettering and they are going to be stronger within the coming interval.

The boosted ties between the 2 international locations are helpful for the area and the world, he mentioned.

Türkiye, he mentioned, is among the high 10 overseas commerce companions of the UAE, including that it’s also an vital strategic associate for the Emirati personal sector.

The discussion board was organized by Türkiye’s Foreign Economic Relations Board (DEIK) in cooperation with the Turkish Trade Ministry and the Emirati Economy Ministry.