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FINANCIAL NEWS
UAE plans to invest in Turkey’s farmland
11 Feb 2011
(MENAFN) The UAE’s Minister of Economy, Sultan al Mansouri, said that increasing prices are raising the need for food security, therefore, the country is seeking to invest in Turkey’s farmland, reported The National.
The minister said that prices of some commodities increased as a result of recent natural disasters in Australia and Argentina among other countries.
Al Mansouri said that both Turkey and the UAE plan to lift bilateral trade to US$10 billion by the year 2015. He added that bilateral trade amounted to USD3.1 billion during the first ten months of 2010.
The minister said that investing in Turkey is currently one of UAE’s priorities as Turkey has a lot of promising agricultural opportunities and about half of the country’s land is devoted to farming making its agricultural sector one of the most valuable sectors of the Turkish economy.
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