UAE strengthens bilateral ties with Turkey
High-level UAE delegation attends Izmir International Fair
Dubai Export Development Corporation (DEDC), the Dubai government body charged with promoting exports from the emirate, along with the UAE Ministry of Foreign Trade and three other high-level UAE delegations, have discussed potential partnerships with Turkeyâ€™s Ministry of Trade.
The United Arab Emirates has reinforced its bilateral ties with Turkey through a five-man UAE delegation at the recently concluded 77th Izmir International Fair, Turkeyâ€™s oldest trade fair.
â€œThe UAE, particularly Dubai, is attracting worldwide attention through its innovative businesses resulting in various huge investments from neighbouring countries, including Turkey. The UAE has emerged as a global business hub with its diverse economy in the region,â€ said Engineer Saed Al Awadi, Chief Executive Officer, DEDC.
â€œTurkey is Dubaiâ€™s leading export destination for aluminium products and precious metals valued at AED85.63 million and AED52.91 million respectively during the first half of 2008. The Izmir International Fair is a perfect platform for us to enhance Dubaiâ€™s export capabilities, strengthen trade relations as well as forge partnerships with different sectors in Turkey.â€
The volume of trade between the UAE and Turkey grew a phenomenal 400% 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 currently has around $4 billion in investments in Turkey, while Turkey recently committed $40 billion in investments to the UAE within the next five years.
About Dubai Export Development Corporation:
Commenced operation in 2007, the Dubai Export Development Corporation (DEDC) is an autonomous organisation under the directive of the Government of Dubai. Its vision is to be a world-class model in assisting and facilitating exporters, by creating an enabling environment for exports, with the aim of enhancing the competitiveness of Dubai as a preferred trading partner.
The DEDC has moulded its mission to identify and effectively deliver value-added trade support services to Dubai export enterprises for accelerated and profitable expansion of their business in foreign markets.