Lootah added, on the sidelines of his participation in the trade mission to Turkey, that the aim of the trade mission to Istanbul, which includes 16 companies from the Emirate of Dubai, is to enhance intra-trade and investment between the UAE and Dubai on the one hand and Turkey on the other hand, especially after the signing of the economic partnership agreement. comprehensive last year, indicating that the mission represents an important step towards strengthening economic relations between the two countries, and reflects the growing commitment of Dubai Chambers to facilitating business and increasing trade and investment exchange with them. Türkiye.
He pointed to the significant growth in the number of Turkish companies that established their businesses in DubaiThe number of active Turkish companies registered as members of the Dubai Chamber of Commerce reached 315 companies in 2014, while it rose to reach 3,257 active companies by the end of the first half of this year, i.e. a growth of 934 percent over the past decade, which reflects Dubai’s attractiveness and global competitiveness.
He pointed out that Dubai’s non-oil trade with Turkey achieved a growth of 106 percent over the past year compared to the year before, considering that the Comprehensive Economic Partnership Agreement contributed to enhancing trade exchange, noting that the agreement is not limited to removing customs tariffs, but also includes removing Non-tariff barriers, which enhance the incentive for investors and traders to enter the Turkish market, and contribute to reducing bureaucracy and encouraging more investors.
Lootah stressed the importance of sectors such as stones and metals, which achieve remarkable numbers in trade, pointing out that the future focus will be on benefiting from the growth in the digital economy and offering these opportunities to Turkish companies, which have a strong ability to export software services to the European market.
He pointed to the opportunities available to enhance the role of Turkish construction and real estate development companies in the growing real estate market in Dubai, stressing that these opportunities contribute to expanding investments and partnerships between companies from both sides.
He stressed the importance of digital economy events organized by the Emirate of Dubai, such as the “Expand North Star” exhibition, which represents an opportunity for Turkish companies to benefit from the available incentives and export digital services from Dubai to regional markets.
Regarding the external representative office of the Dubai International Chamber in Istanbul, Lootah explained that its role lies in supporting companies based in Dubai to expand globally, and providing support to Turkish companies wishing to enter the Dubai market, which contributes to facilitating joint investments and partnerships.
He pointed to the growing interest of Dubai companies in investing in the warehousing, logistics, real estate and pharmaceutical industries sectors in Turkey, stressing that the economic partnership agreement aims to enhance access to markets and support commercial infrastructure, ensuring the prosperity of the Turkish commercial sector in light of global economic changes.
