Investment between UAE and Turkey surges forward

04/03/2011 - Dubai Investment News Posted by Bob Brunskill
Investment between UAE and Turkey surges forward

Rising tourism levels, a focus on energy efficiency and a more positive outlook for the construction sector has helped boost investments between the UAE and Turkey.

This is according to the Turkish Ambassador to the UAE, who noted that investments between the two regions reached Dh36.78 billion in 2010

In 2010, trade between Turkey and the UAE increased 14 per cent to Dh12.76 billion and there are currently 500 Turkish companies operating within the UAE.

Mehmet Sami, executive board member of ATA Invest, Turkey's largest independent bank, explained that UAE mainly imports iron, steel, textiles and food from the European country.

In terms of exports, a recent study from the Dubai Chamber of Commerce and Industry found that the most popular products sent from the UAE to Turkey include pearls, precious metals and stones, plastics, aluminium, boilers and machinery, essential oil and vehicles.

"Turkey is interested in tourism and business with the UAE, but there are visa obstacles and delays," Gulizar Yavas, Turkish commercial attache, noted.ADNFCR-2019-ID-800444052-ADNFCR