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.