Turkey's exports to the UAE have increased by more than five times over the past five years according to the latest figures released by the government in Ankara. The total value of exports to the UAE increased from $315 million (Dh1.1 billion) in 2000 to $1.6bn (Dh5.7bn) in 2005, making the UAE Turkey's biggest market in the GCC.
Manufacturers, largely of iron, steel, machinery, transport and textiles, account for the vast majority of Turkish exports to the UAE with $1.4bn (Dh5b) generated from this sector alone during 2005. The figures mark a growth of more than 600 per cent for the manufacturing industry, which gleaned just $207m (Dh745m) from sales to the emirates in 2000.
While the UAE is the largest market for Turkey by almost $1bn (Dh3.6b), trade volumes have steadily increased across the entire Gulf region with 2005 exports to Saudi Arabia and Kuwait reaching $783m (Dh2.8b) and $210m (Dh756m) respectively, the Turkish government said.
The success is a result of a relaxation in the laws dictating foreign trade and steps being taken towards a free trade agreement with the Gulf region, especially the UAE.
The UAE Trade Exhibition in Turkey, organised by the Dubai Chamber of Commerce and Industry (DCCI), Jebel Ali Free Zone Authority (Jafza) and Dubai Tourism and Commerce Marketing (DTCM), will take forward the trade agenda between September 13 and 15.
One of the main objectives of the event is to reinforce existing business relationships. Both governments are also keen on sfocussing on the investment potential for the UAE businesses as a result of Turkey's current privatisation programme.
"We are delighted with the mutually beneficial trading relationship that has developed between Turkey and the UAE over recent years," said Sultan Lootah, the DCCI's Manager of Business Promotion.
Commodities being an important area for the two countries, the exhibition will include a conference hosted by the Dubai Multi Commodities Centre (DMCC), DCCI and Jafza, which will focus on investment opportunities in the UAE.
Favorite destination
Turkey will be among the top five outbound destinations from the Middle East within two years and the country will see a 20 per cent increase in tourists from the UAE, Kuwait and Saudi Arabia, according to Murat Oldac, the Director of Sales and Marketing at Radisson SAS in Bosphorus, Turkey.
"The country is stepping up its marketing efforts across the Gulf.
Turkey's culture and tradition, central location as well as state-ofthe-art conference facilities make it an attractive place for Middle East corporate and leisure travellers. Istanbul is also only four hours flying time away from most GCC countries and more airlines are starting direct flights from the region to Turkey, such as Air Arabia from Sharjah," he added.
By Emirates Today Staff
Emirates Today 2006
