Following the signature ceremony, the two ministers held a joint press conference.

Speaking at the press conference, Caglayan said that the businesspeople and companies of the two countries had important cooperation in diverse fields.
There is great potential for business in the fields of energy, environment and construction in the two countries and also in third countries, Caglayan said.

Turkish businesspeople have important investments in the United Kingdom. The trade volume of 11.9 billion USD does not represent the potential between the two countries. The trade volume should be doubled by the year 2015, Caglayan underlined.

In order to boost commercial and economic relations, I will travel to the United Kingdom with a group of Turkish businesspeople after the June 12 elections, Caglayan also said.

Lord Stephen Green, in his part, said that the United Kingdom was the most crucial country supporting Turkey's EU bid.

"Our support to Turkey will continue until Turkey becomes an EU member," Green stressed.

Turkey happens to be one of the fastest growing countries in Europe. The Turkish economy has become "sophisticated". There is great potential for investment between the two countries especially in the fields of construction and energy, Green underlined.

Turkey and the United Kingdom should share information. The two countries go through tough times. We have to strengthen economic relations by finding common points in our growing economies. Our universities and businesspeople could share their experiences, Green said.

The contractors of the two countries can cooperate in Northern Africa and Asia, Green also said.

Earlier in the day, Green met with Turkey's Central Bank Governor Erdem Basci.

Green will proceed to the north-western province of Istanbul on Wednesday night.

Green will meet Turkish Finance Minister Mehmet Simsek on Thursday.