Ankara: Obaid Humaid Al Tayer, Minister of State for Financial Affairs, yesterday met with Ali Babacan, Deputy Prime Minister of Turkey.
They discussed relations between the UAE and Turkey, especially in the financial and economic sector following the increase in trade between the two countries during the past few years.
Al Tayer discussed with Babacan recent economic developments in the UAE, and indicated the growth it has witnessed currently and in the past two years. He called for more Turkish investments in the UAE within the framework of ongoing cooperation between them, pointing to the double taxation avoidance agreement that was signed in January 1993, as well as the agreement signed in May 2005 for protecting and encouraging investments.
They also reviewed the progress achieved in free trade negotiations between Turkey and the GCC countries during the past four sessions. The last session was held in 2009, and another session is planned to be held this year.
Al Tayer and Babacan also discussed topics on the G20 agenda, especially with regard to supporting global economic stability and the importance of approving monetary and fin-ancial policies that ensure global economic growth.
