ISTANBUL:Turkey and the United Arab Emirates (UAE) have agreed to expand their collaboration in a number of areas, including mutual investment prospects.

"We are working with all of our institutions to develop our relations across the board," Turkish Foreign Minister Mevlut Cavusoglu said during a joint press conference in Istanbul with UAE Minister of Foreign Affairs and International Cooperation Sheikh Abdullah bin Zayed Al Nahyan.

According to reports, Turkey and the UAE are also looking for ways to cooperate in third countries, with Cavusoglu stating that they are working on "extremely major" transit projects that will connect the Gulf region with Europe via Iraq.

The two countries have agreed to sign a comprehensive trade agreement before the end of the year, according to the Turkish minister. According to Cavusoglu, the two countries' trade volume hit $8 billion in 2021, providing hope for a $10 billion aim in the near future.

The UAE minister, for his part, emphasised the importance of renewable energy, emphasising the necessity of the two countries' collaboration in the sphere of carbon reduction.

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