UAE interested in Turkey's iron and steel sector

UAE interested in Turkey’s iron and steel sector

Sheikh Hamid bin Zayed Al Nahyan, chairman of the United Arab Emirates' (UAE) Abu Dhabi Planning and Economy Administration, arrived yesterday in Ankara, Turkey, for talks regarding new investment projects in Turkey. Al Nahyan indicated that Turkey's labor force and market positions are developing well. He added that Turkey would be a gateway through which the UAE could reach the Far East and other countries. “We are interested in the automotive industry and iron and steel sector in Turkey,” explained Al Nahyan. “We may visit Turkey's steel producer Erdemir and meet with Oyak Group, but it's too early to talk about this.” The trade volume between Turkey and the UAE gathered steam in the last few years, increasing to $1.3 billion in 2004 from $354 million in 2000.