A UAE government-led trade exhibition is to be staged in Turkey for the first time following steady increases in bilateral trade in recent years and commitments by senior officials of both countries to strengthen mutually beneficial business ties for the future.
The event comes at a key time for UAE companies looking to expand into the Turkish market, with attractive investment opportunities on the horizon as a result of Turkey’s privatisation programme.
The ‘UAE Trade Exhibition in Turkey’ is being organised by Dubai Chamber of Commerce & Industry (DCCI), Jebel Ali Free Zone Authority (JAFZA) and Dubai Tourism and Commerce Marketing (DTCM) and will take place at the Grand Cevahir Hotel and Convention Centre in Istanbul between 13-15 September.
“The exhibition will present significant opportunities for UAE investors to take part in the privatisation of Turkish public facilities across many sectors,” said Harun Kocak, Turkey’s commercial attaché to the UAE who is excited by what could be borne out by the new event.
“We have introduced new legislation to ease foreign investment and the positive effects of this are already being felt with several high profile organisations from the emirates embarking on Turkish business ventures,” added Kocak.
Turkey is ranked among the top 20 traders in the world with a trade volume of around 200 billion US dollars, and therefore it’s anticipated that the ‘UAE Trade Exhibition in Turkey’ will also act as a vehicle to link Turkey’s high quality, good value products with UAE companies that possess global re-exporting capabilities.
“We have high hopes that this event will build on increasing trade levels with the UAE, which have been given a boost in recent years thanks to our ‘Neighbouring and Surrounding Countries Strategy,’’ said Kocak. “Imports and exports with this group have increased by 60% since the strategy’s inception in 2000.”
The inaugural expo will offer participants unique interaction with key players from Turkish trade unions and chambers of commerce as well as ministers, Government officials and high profile industry decision-makers.
Manufacturers, traders and potential investors are all encouraged to participate in the exhibition, which will feature a wide range of products, services and technologies from across a multitude of sectors including financial, construction, tourism and real estate.
With so much potential to be exploited, many prominent UAE companies including national banks and real estate companies, the country’s free zones and leading manufacturers, have already signed up and are eager to capitalise on the thriving Turkish market.
“Turkey’s infrastructure is currently going through massive change which is opening up the country’s markets to foreign trade,” said Idil Akin, general manager of technical organisers Mosaic Organizations. “Many UAE companies we speak to are eager to establish fruitful relationships with Turkish businesses and realise expansion plans alongside a country with which they share such strong cultural values.”
The ‘UAE Trade Exhibition in Turkey’ is seen by many as a positive step towards achieving Turkey’s goals of increasing trade volumes with the Gulf region to equal 30% of its total foreign trade and establishing a free trade agreement with the GCC countries, in particular the UAE.
Alongside the exhibitor stands, the event will include a conference hosted by Dubai Multi Commodities Centre (DMCC), the DCCI and JAFZA, which will focus specifically on investment opportunities in the UAE for Turkish companies.
In addition to the main organisers, the ‘UAE Trade Exhibition in Turkey’ is supported by the Turkish Travel Agents Association and is taking place under the patronage of the Turkish Chambers of Commerce and the Turkish Secretary of Foreign Trade.
