Connect with us

Business Insights

Growing UAE investments and trade in Turkey

UAE and Turkey aim for closer economic and trade relations as Emirati investments reached $5.6bn before this year.

UAE and Turkey aim for closer economic and trade relations as Emirati investments reached $5.6bn before this year.

Robust Investments and Trade Figures

UAE investments in Turkey have shown a substantial increase, reaching AED 20.6 billion ($5.6 billion) earlier this year. 

In addition, the bilateral trade relationship between the two countries was valued at approximately $10 billion in the previous year.

Surge in Foreign Direct Investment

According to Ahmet Burak Daglioglu, the Head of the Investment Office of the Turkish Presidency, cumulative foreign direct investment from the UAE to Turkey has witnessed a significant surge. 

From 2002 through August 2023, this investment has reached a remarkable figure of $5.6 billion (AED 20.6 billion).

Active UAE Companies in Turkey

Daglioglu also reported that as of the first half of this year, around 600 UAE-based companies have been actively operating in Turkey. 

This reflects the growing economic and business ties between the UAE and Turkey, signifying mutual trust and collaboration in various sectors.

These investment and trade figures highlight the strengthening economic relations and partnership between the UAE and Turkey, emphasizing the potential for further growth and cooperation in the future.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending