Turkey and Greece concluded the third intergovernmental conference on Saturday in the Greek capital of Athens with a special focus on boosting economic ties.

"We are determined to open a new era (in ties) for the benefit of peoples of both countries," Turkish Prime Minister Ahmet Davutoglu said in a press briefing he held with his counterpart Greek Prime Minister Antonis Samaras after the meetings.

He said on trade, customs, tourism, transportation and energy both countries are complimentary.

"In the final analysis, we are the gateway to Asia for Greece and Greece is our gateway to Europe," Davutoglu said.

Turkey and Greece have been able to develop trade relations despite political problems in the Aegean Sea where disputes over airspace and territorial water continue to remain unresolved.

The trade volume between Turkey and Greece has increased by 14 percent in 2013 reaching to 5.6 billion US dollars from 4.9 billion a year earlier. In the first 10 months of this year, the trade volume has only slightly increased by 2 percent, according to Turkish government data.

Final communiqué issued after the high level meeting indicated that both sides said they are willing to cooperate further on natural gas pipeline and electricity grid interconnection.

It said Trans-Anatolian Gas Pipeline (TANAP) and the Trans Adriatic Natural Gas Line (TAP) are the best and less costly routes to transport Caspian gas resources to Western Europe.

Greek Foreign Minister Evangelos Venizelos said "it is very important that we make the maximum use of joint and major projects like the TAP pipeline, and the creation of the southern energy corridor that will start a new chapter in relations between our two counties."

Davutoglu was accompanied with a large delegation of businessmen and nine Cabinet ministers during the visit to Athens.

Both countries have also agreed to cooperate on joint projects in tourism. The pilot project that allowed Turkish and Greek citizens to enjoy simplified entrance procedures between the western coast of Turkey and seven Greek Islands in the Aegean have already produced fruitful results.

In the communiqué, Turkey and Greece reaffirmed their commitment to work together on illegal immigration, smuggling, organized crime and terrorism.

The statement also underlined that Greece supports Turkey's European Union bid in line with the EU's principles and criteria.

The last meeting of the high level council was held in March of last year when Greece and Turkey signed several agreements to add new momentum to relations.
POLITICAL DISPUTES REMAIN

Prime Minister Davutoglu's visit came on the heels of a gas row in the Eastern Mediterranean where Greek Cypriots have disputes with the Turkish Cypriot community in divided Cyprus over rights in the Exclusive Economic Zone (EEZ).

The tensions flared up in eastern Mediterranean when the Cyprus government decided to continue exploration of natural gas resources offshore without waiting for the results of the UN-brokered peace talks between Greek and Turkish side in the island.

Turkey recently sent a seismic research vessel called the Barbaros to the region, which Greek Cyprus considers a violation of its territorial waters. The move prompted the Cypriot government to suspend unification talks.

Ankara said it will not allow the Greek Cypriots to monopolize the natural resources in and around Cyprus and had vowed not to accept a fait accompli in the gas row. "No one can shut us out of the Mediterranean. We may conduct drilling if necessary," Davutoglu recently said.

Before departure for Greece on Friday, Davutoglu softened his tone, saying we will discuss, face to face, the importance of Turkish-Greek relations for the peace and stability of the eastern Mediterranean."

In Athens, he said once Cyprus problem is solved, Turkey and Greece would work together in energy corridor in eastern Mediterranean.

Cyprus has remained divided since 1974, when Turkey invaded after a coup aiming to unite the island with Greece. Firstly resumed in 1980, the peace talks are suffering tensions and suspensions for many times.

The Cypriot government, run exclusively by Greek Cypriots, is internationally recognized and represents the whole of the island in the European Union.

Turkey was also recently irritated over cooperation schemes among Greece, Israel, Cyprus and Egypt. Ankara has warned these countries to avoid taking steps that will escalate tension in the eastern Mediterranean.

However, Venizelos said the alliance does not have a hostile approach to Turkey.

The two neighbors are also at odds over unresolved sea and air delimitation over a common sea separating Turkey and Greece.

Both countries came to the brink of war three times between 1974 and 1996 over Aegean borders and Cyprus.