DUBAI: The United Arab Emirates is “betting on Turkey” by seeking to boost bilateral trade, the Gulf nation’s trade minister said, in the latest sign of improving ties.

The UAE hopes to double or triple trade volumes with Turkey, which it sees as a route to new markets thanks to its logistical network, Minister of State for Foreign Trade Thani al-Zeyoudi told Bloomberg in an interview published on Thursday.

The Emirates are “betting on Turkey as a country which is going to open up for us new markets through their logistics and through their supply chain”, Zeyoudi said.

The comments come after Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed announced a $10 billion fund for investments in Turkey in November, during the UAE’s first high-level visit there since 2012.