Al Mansoori said. "We are looking to enhance bilateral relations at all levels especially in the economic, trade and investment, energy, agriculture, SMEs and other areas and sectors which are considered an common interest for both countries. We also agreed to closely cooperate to take the economic relations to the same level as the excellent level of political relations between the two countries" He also noted the importance of the Committee meetings that are going to assess synergies and to propose solutions and mechanisms to overcome all obstacles and take the necessary decisions and actions.
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Mehmet ?im?ek, the Minister of Finance of the Republic of Turkey stressed the significance of the meetings of the Committee for the promotion and consolidation of bilateral relations between the two countries, and affirmed the "strategic partnership" between the two countries, and also stressed that the bilateral economic relations continue to prosper at a high level despite the global financial crisis.
Both sides discussed bilateral cooperation in the Economic Cooperation and Trade and Investment, Industry, SMEs, Energy, Petrochemicals, Construction and Consultancy Services, Transport, Communication, Agriculture, Health, Standardization and Metrology, Private Sector and Legal Framework.
Both sides expressed their high interest in the Free Trade Agreement (FTA) between the Gulf Cooperation Council (GCC) and the Republic of Turkey, and pointed out the importance of achieving progress in the FTA. They agreed to engage in joint endeavors with other contracting parties in order to put into practice the Preferential Trade System of the Organization of Islamic Conference (TPS-OIC).
The two countries noted their determination to further increase the volume of bilateral trade and to reach the level of $10 billion by the end of 2015. The Turkish Side informed the UAE Side that Turkey will support participation of Turkish companies in 119 fairs to be organized in the UAE in 2011 such as GulFood, Ingredient Middle East, WEtex, OIC-Expo and Index and others. In this context, the Turkish Side invited the UAE companies to participate in the fairs and exhibitions to be organized in Turkey.
Both Sides stressed the importance of bilateral investments for economic development in both countries and showed their interest and desire in reinforcing the bilateral investment flows. They have exchanged presentations on their respective investment environments and shared information on different investment regimes and investment opportunities in both countries. The UAE Side pointed out that it has been expanding its free zones and Specialized Economic Zones.
Both Sides agreed to encourage exchange of mutual visits to their Free Economic Zones and the Specialized Economic Zones and share information on development and cooperation regarding joint investments. They agreed to encourage their companies to engage in joint ventures not only in Turkey and the UAE but also in third countries.
The Turkish Side stated the readiness of the Investment Support and Promotion Agency of Turkey to organize a complementary promotion seminar in Turkey for UAE investors with the participation of the Privatization Administration and the Southeastern Anatolia Project Regional Development Administration of Turkey, in the first half of 2011.
Both countries agreed to create awareness among business communities of both countries regarding the agreements on Avoidance of Double Taxation and on Reciprocal Promotion and Protection of Investments.
In the field of Intellectual Property Rights (IPR) both Sides noted their satisfaction with the ongoing cooperation in the field of intellectual property rights within the framework of the World Intellectual Property Organization (WIPO), World Trade Organization (WTO) and Paris Convention.
As for the Industrial Cooperation the two countries noted and welcomed the engagement of companies of both countries in a number of projects in the fields of industry, infrastructure and real estate development in the UAE and Turkey and agreed to exchange information and expertise on implementations of the two countries and on their practices about industrial zones, techno parks, research and development centers.
The UAE Side expressed the desire of the specialized industrialized zones of the UAE to visit the organized industrial zones in Turkey to explore the facilities and services and to exchange expertise in this regard.
Both countries highly emphasized the cooperation on Small and Medium Size Enterprises (SMEs). The UAE Side emphasized that the UAE Federal Government attributed high importance to the development of the SME Sector as a strategic priority and agreed to share policies and practices in SMEs including management, policy and innovation through exchange of expertise.
Both Sides agreed to enhance cooperation and exchange investment information related to SMEs by holding venture investment fairs participated by SMEs and ventures companies and to exchange SMEs delegations between the two countries.
Recognizing the importance of SMEs for both countries, the UAE Side outlined the new draft law on SMEs.. Furthermore, the UAE proposed to sign a Memorandum of Understanding (MOU) with the Turkish Side on SME cooperation as soon as possible and expressed its desire to send a delegation of young entrepreneurs to Turkey to examine the SMEs experience and meet with SMEs companies.
Both Sides agreed to cooperate in the field of renewable energy through exchange of expertise, know-how, and encouragement of joint projects to be developed by private companies of the two countries.
In the Petrochemicals both Sides agreed to encourage industrial cooperation in the areas of petrochemical and related industries, and expressed their interest that this cooperation would include training and know-how transfer. The UAE Side encouraged the efforts taken by UAE companies investing and cooperating with Turkish companies specialized in petrochemicals.
Both Sides, underlining the importance of promoting cooperation in the field of construction and consulting engineering services, desiring to increase and further strengthen existing relations through close cooperation, expressed their appreciation over current intensive relations in the construction and consulting engineering services and agreed to further encourage their respective business communities to establish closer contacts with the view of exploring business opportunities in both countries and in third markets through joint investment projects and consulting engineering services.
In accordance with the understanding reached during the 8th session of JEC, both Sides shall set up an action plan and adopt effective measures for further developing the cooperation between the governments, sectoral institutions and the leading companies operating in consulting engineering (pre-feasibility, feasibility, master planning, planning, market research, architectural design, engineering etc.) and construction (housing, business centers, hospitals, administration facilities, infrastructure, industrial plants, power plants, petrochemical plants etc.) services, Both Sides noted the ongoing cooperation between the relevant authorities of the two countries on civil aviation and agreed to urge their civil aviation authorities to further develop cooperation. The UAE Side reiterated its proposals, which were conveyed to the Turkish civil aviation authorities in different occasions. Both sides agreed to encourage their relevant institutions to hold the forthcoming civil aviation meeting at the earliest convenience.
Both Sides expressed their readiness to sign the MOU on Road and Maritime Transport at the earliest convenience. The UAE side accepted to discuss the Turkish proposal regarding initiating negotiations on international road transport agreement to facilitate and to develop road transport operations. In this context, both sides decided to hold a meeting between the relevant authorities of both countries in order to initiate the negotiations.
Both Sides emphasized the importance of railway transportation in enhancing trade relations between the two countries and its contribution to the development of the region. In this context, both Sides agreed to further engage in discussing railway transport cooperation through their relevant authorities.
The Turkish Side expressed its readiness to cooperate via affiliated authorities, namely Turkish Railway Machines Industry Inc (T?DEMSA?), Turkish Wagon Industry Inc (T?VASA?) and Turkish Locomotive and Motor Industry Inc (T?LOMSA?) in the field of maintenance, repair and manufacturing of railway vehicles upon the UAE Side's request.
Both Sides agreed to expand cooperation in agricultural investments, exchange of expertise and knowledge transfer in the following areas of cooperation in preservation of bio-diversity and heredity origins of endangered animal and plant species.
They agreed on exchange of expertise in areas of management of fish wealth, combat of desertification, biological diversity, water resources, marine life, environment and coastal areas. Also exchange of expertise and information on related laws, regulations, policies and the fishermen community system and exchange of expertise in areas of irrigation and agricultural and animal direction and exchange of expertise on food security and food safety. Both Sides acknowledged the great importance of food security and food safety for their respective economies.
Both Sides, determined to consolidate the existing bases for mutual cooperation in areas relating to health, as a key element contributing to the development and well-being of their people, agreed to promote cooperation between their respective component bodies in this field, including health tourism. To this aim, Both Sides decided to hold a meeting in Turkey, at a date to be determined.
The UAE Side submitted to the Turkish Side an Executive Program proposed by the Emirates Authority for Standardization '&' Metrology (ESMA) to activate the MOU on Technical Cooperation signed with the Turkish Standards Institution (TSE) in 2009 to enhance the cooperation in the fields of product conformity assessment and quality marks with the objective of eliminating technical barriers to trade.
Both Sides agreed to activate the UAE-Turkey Business Council formed in 2000 and expressed their full support to all cooperation initiatives coming from the business communities in both countries and agreed to encourage exchange of business delegations and participation in specialized exhibitions and fairs and study organizing promotional weeks for national products in both countries.
Both Sides noted their satisfaction with the signing of the Memorandum of Understanding (MOU) on the Establishment of a Joint Coordination Body between the Chamber of Industry of Ankara and the UAE Federation of Chambers of Commerce and Industry on February 10, 2011, on the occasion of the 8th JEC meeting.
Both Sides underlined their determination to exert effort for the finalization of the following memorandum of understanding at the shortest possible time: MOU on Economic, Scientific and Technical Cooperation in the Field of Agriculture. Both sides agreed to encourage relevant labor authorities of both countries to discuss labor issues.
The UAE Side presented to the Turkish Side a draft Agreement on the Cooperation and Mutual Assistance in Customs Matters. The relevant authorities of both Sides will work on finalizing the text as soon as possible.
Both Sides agreed to hold a meeting with the aim of finalizing and signing of the Memorandum of Understanding in the fields of land and maritime transport at a date to be determined through diplomatic channels.
A draft text regarding International Road Transport Agreement would be submitted by the Turkish Side and a draft text regarding the MOU on cooperation between SMEs would be submitted by the UAE Side to the consideration of relevant authorities of both countries in the shortest possible time. The UAE Side presented to the Turkish Side a draft MOU on Consumer Protection.
Both Sides agreed to establish a follow up mechanism in order to oversee the implementation of the outcome of the 8th JEC. Both Sides also agreed to provide a progress report every six months detailing the implementation of the agreed-upon issues in accordance with the Agreed Minutes of the 8th session of the JEC.
Both Sides recognized that the 8th JEC Meeting contributed to the promotion of mutual understanding and establishment of a framework to further expand economic, trade and technological cooperation.
Both Sides also agreed to hold the 9th UAE - Turkey Joint Economic Commission Meeting in Turkey and the date for the next Joint Economic Commission will be confirmed through diplomatic channels between the two governments.
WAM/MAB
Source : http://www.wam.org.ae/servlet/Satellite?c=WamLocEnews&cid=1293605087936&p=1135099400124&pagename=WAM%2FWamLocEnews%2FW-T-LEN-FullNews - Feb 12,2011
