Turkey and the UAE will develop closer economic ties and increase cross-border investment despite the financial crisis and lingering disputes over US$80 million (Dh293.8m) in unpaid contracting bills, a prominent Turkish businessman says.
Direct investments from the Gulf into Turkey accounted for only 2 per cent of overall foreign investment in the country, said Korhan Kurdoglu, the chairman of the Turkish-UAE Business Council.
And Mr Kurdoglu said only between 1 and 2 per cent of the GCC’s total foreign investment went to Turkey, a state of affairs he expected would improve.
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