recent signing of a new business agreement.
The Australian Industry Group (Ai Group) and the Turkish Foreign Economic Relations Board (known as DEIK) have signed a Memorandum of Understanding (MoU) to establish a bilateral Business Council.
Turkey’s Deputy Prime Minister, Mr Ali Babacan, who is currently in Australia as part of a Turkish trade delegation, witnessed the signing of the MoU in Sydney today.
Australian Industry Group (Ai Group) Chief Executive Innes Willox said the new Council would help to boost trade between the two countries.
Turkey and Australia already have many commercial ties including across defence, mining, construction and food sectors.
“The MoU is a natural next step in strengthening this relationship,” Mr Willox said.
The MoU commits both organisations to establish a bilateral Business Council which will:
- Help promote trade between the two countries
- Contribute to industrial and technological collaboration between their enterprises and economic institutions and
- Coordinate joint efforts to collect, combine, analyse, evaluate and diffuse information in relation to trade, industrial and technological cooperation and investments to the mutual benefit of the two nations.
Turkey and Australia are both active members of the G20/B20. Turkey will host the G20 in 2016.