By Andac Hongur

ISTANBUL

Turkey’s vice president on Wednesday called defense and security sectors as “strategic areas” to enhance cooperation between Turkey and Malta.

Speaking at the Turkey-Malta Business Council Meeting in Istanbul, Fuat Oktay said Turkey has realized significant developments in defense industry.

“In this context, the defense and security sectors in particular could be strategic areas that we can improve the cooperation between Turkey and Malta,” he said.

"We expect Turkish and Maltese business people to work in line with the target of boosting bilateral trade volume to $1 billion," Oktay added. 

Describing Turkey an attraction center for Maltese investors, Oktay said: "Our young and highly educated population, settled business culture, advanced infrastructure and geographical location are among the advantages of Turkey."

He underscored that the two countries can cooperate in different sectors, including tourism, food, textile and furniture.

Praising Malta's breakthroughs in the service sector and its pioneering initiatives in the fields such as blockchain, Oktay said Turkish government also wants to play an active role in them.

The vice president also stressed that investments from Malta to Turkey and vice versa should be diversified.

"Turkey’s EU accession process is also important for Malta as it is for Turkey. Thus, Maltese companies can have access to more products in Turkish market for more reasonable prices," he stated. 

Oktay said Turkey's government will continue to encourage Turkish business people to benefit from business and investment opportunities in Malta. 

Also addressing the meeting, Malta's President Marie Louise Coleiro Preca said Maltese government will continue to back Turkey's membership negotiations with the EU. 

She added that Malta supports the EU's enlargement policies calling those efforts valuable for a sustainable and prosperous Europe. 

Stating that the two countries are not rival, Preca said Turkey and Malta enjoy mutual cooperation.

"We can carry this [cooperation] further together," Preca said, pointing out the similar geopolitic potential Turkey and Malta share.