Turkey is ready to boost its trade ties with Palestine, said Turkish Economy Minister Nihat Zeybekci on Saturday.

The minister made the remarks while speaking at a Palestinian business forum held in Istanbul.

He also hoped for increasing imports from Palestine.

Turkey's exports to Palestine hit 280 million US dollars while its imports reached only five million dollars.

"I wish our imports from Palestine will come through 500 million dollars," he said.

For his part, Palestinian Economy Minister Muhammed Mustafa said that his country seeks to promote cooperation with Turkey especially in the industry sector.

"The share of the industry sector in Palestine's economy is 13 percent, which we plan to raise to 25 percent within five years," he said.

The two countries also agreed to expand the scope of their current free trade agreement, which has been established to ease trade transaction on both sides.

The minister said that Ankara is ready to take all the necessary steps to promote trade exchanges between the two countries, and pledged to fix the problem of the high customs duties.

The Palestinian minister complained that the Israeli products have found its way illegally into the Palestinian territories, and that undermines the Palestinian economy.