Business | Economy
Dubai officials visit Turkey to strengthen trade links
The UAE has reinforced its ties with Turkey through a five-man UAE delegation at the recently concluded 77th Izmir International Fair, Turkey's oldest trade fair.
- Staff Report
- Published: 23:28 September 6, 2008
Dubai: The UAE has reinforced its ties with Turkey through a five-man UAE delegation at the recently concluded 77th Izmir International Fair, Turkey's oldest trade fair.
The Dubai Export Development Corporation (DEDC), the Dubai government body charged with promoting the emirate's exports, also discussed potential partnerships with Turkey's Ministry of Trade.
The UAE Ministry of Foreign Trade and three other high-level UAE delegations were also part of the discussions.
"Turkey is Dubai's leading export destination for aluminium products and precious metals valued at Dh85.63 million and Dh52.91 million respectively in the first half of 2008.
"The Izmir International Fair is a perfect platform for us to enhance Dubai's export capabilities, strengthen trade relations as well as forge partnerships with different sectors in Turkey," said Saeed Al Awadi, CEO of DEDC.
The value of trade between the UAE and Turkey grew a phenomenal 400 per cent from $700 million in 2002 to $3.7 billion in 2007, with mutual investments reaching $2.5 billion in the past two years.
The UAE has around $4 billion invested in Turkey, while Turkey has committed $40 billion in investments within the next five years.
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