Total trade volume between Turkey and the UAE during Q1 2011 (January - March) stood over US$1.3 billion, according to the latest trade report released by İstanbul Chamber of Commerce (ICOC).
Abu Dhabi: İstanbul Chamber of Commerce stated they were aiming for a 20% increase in food trade between Turkey and the UAE. This will bring bilateral food trade between the two countries to US$250 million by the year 2015, Dr. Murat Yalcintas, President of the Executive Board, Istanbul Chamber of Commerce, said.
The total trade volume between Turkey and the UAE during Q1 2011 (January - March) stood over US$1.3 billion, representing a 50 per cent increase compared to the same period in 2010, according to the latest trade report released by İstanbul Chamber of Commerce (ICOC).
Trade data indicated food exports from Turkey to UAE during this period was valued at US $32 million. The total food export in the year 2010 reached US$103 million.
Determined in its efforts to broad-base and expand the country's food exports, ICOC has doubled the size of the Turkish national pavilion at SIAL Middle East 2011, bringing in more than 40 exhibitors to develop new ways of cooperation with the friendly country UAE.
In recognition of Turkey's vital contribution to the region's dynamic food industry event, organiser Turret Media and strategic partner Abu Dhabi Food Control Authority have chosen Turkey as the Country of Honour for 2011.
"The region has the potential to generate significant businesses and trade with the global food industry as it imports 90 per cent of its food requirements; and Turkey is able to export food surpluses as it traditionally produces more food than required for domestic consumption," Dr Murat pointed out, adding that Turkey's food and agriculture sector and the region's food security plan perfectly complement each other.
According to ICOC, the participation of 40 Turkish food companies at SIAL Middle East in November this year will increase their market share substantially in the UAE and the region. In terms of quality, these companies are mostly the leaders of their sector exhibiting food products such as confectioneries, olives, organic food, dried fruit, coffee, pulses, grains and canned food. Turkey leads the world markets in terms of both production and exports for some of these products.
Last year, the total trade volume between Turkey and GCC countries stood over US$10 billion. Due to the increasing recovery from the global economic crisis, the Q1 period of the year 2011 alone witnessed more than US$3 billion worth of foreign trade between Turkey and GCC countries.
Trade data indicates that the UAE is Turkey's largest trading partner among the GCC countries, with nearly 42 per cent of share in the total trade between Turkey and GCC. Turkey's total trade with UAE is valued at US$4 billion in 2010.
Turkey has become a global player in the food sector by producing and exporting more than 200 organic products. "Our participation at SIAL Middle East will open the way to more effective partnerships between Turkish food companies and companies from the UAE and the region," said Dr.Yalçıntaş.
"Turkey will become a safe address for foreign investors, a key ally for its Arab friends and the right choice for economic cooperation in the food sector," he emphasized.
SIAL Middle East is the part of the world's largest network of professional food events and is the latest exhibition to be launched in the Middle East as a part of the SIAL Group of events. Held annually, under strategic partnership with Abu Dhabi Food Control Authority, the event brings together professionals involved in buying and selling food products, services and equipment in addition to the latest innovations in the food industry.
More than 12,000 trade visitors from 80 countries are expected to attend this year as the trade show will host over 500 exhibitors and 15 national pavilions from Turkey, Argentina, Korea, China, Taiwan, Iran, France, Italy, Poland, Vietnam, Thailand, United Kingdom, United States, Egypt and the UAE. The pavilions will feature international companies showcasing an array of food products and services, some of them never seen before in the region.
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About SIAL Group
First developed in Paris, SIAL has become the global brand serving the food and retail industries. Now the largest network of professional food events in the world, SIAL Group exhibitions assemble over 9,300 exhibitors and deliver more than 216,000 visitors from 200 countries. Since 1997, SIAL exhibitions have also been organized in Asia, North America and Latin America. SIAL Middle East, the trade only event, will welcome more than 12,000 industry professionals in November this year in Abu Dhabi. For more information, visit: www.sialme.com
About Abu Dhabi Food Control Authority - Strategic Partner for SIAL Middle East
Abu Dhabi Food Control Authority was established in 2005 as an independent food regulatory agency for the emirate of Abu Dhabi. The Authority embodies the Abu Dhabi Government's commitment to protecting its consumers, particularly by ensuring the safety and quality of food served throughout the public. It enforces policies and standards and conducts research and awareness campaigns to maintain a sustainable agriculture and food sector that delivers safe food to the public, protects the health of animals and plants, and adheres to sound environmental practices.
For more information visit: www.adfca.ae
About Turret Media - Organiser of SIAL Middle East
A multi award winning company, Turret Media has conceptualised, developed and launched some of the most successful live events in the world and is a leading publisher within several market sectors in the Middle East.
Following more than 50 years of experience in the United Kingdom, Turret Media migrated its business headquarters to the UAE in 2006 after becoming a foundation partner of the Abu Dhabi National Exhibitions Company. Turret Media has since been behind numerous exhibitions, conferences and consumer events in Abu Dhabi and Dubai that collectively attract some 1,400 exhibitors and deliver more than 120,000 visitors in industry sectors as diverse as renewable energy, IT, gourmet food and waste management. For more information visit: www.turretme.com
For more information, please contact:
Layla Haroon
Public Relations Manager
Turret Media
Tel: +971 2 401 2830
Mob: +971 50 905 9602
Email: l.haroon@turretme.com
Web: www.sialme.com
© Press Release 2011
