UAE-Turkey real estate meeting to explore new bilateral opportunities

Hussain Sajwani, UAE Representative and Chairman at the Turkey-UAE Business Council, said: “Turkish President Recep Tayyip Erdogan’s visit earlier this year has accelerated Turkey’s and the UAE’s efforts to continue strengthening their strategic ties. and economic. Our nations traditionally enjoy shared values ​​and brotherhood, deeply rooted in our heritage and cultures.

The UAE is Turkey’s largest trading partner and ranks second in indirect investment among GCC countries, with two-way trade between the two countries in 2020 recorded at $8 billion. “Our mutual interests and opportunities for economic cooperation have been the driving force behind our relationship,” said Nail Olpak, Chairman of DEiK. “The Business Council aims to improve Turkey’s trade and investment relations with the United Arab Emirates and partnerships in the countries in order to contribute to the improvement and development of political, economic, commercial and cultural interaction between the two countries.” Turkish contractors undertook nearly 150 projects worth $13 billion in the UAE as of January 2022, with Turkish companies investing and being part of the UAE market for over 10 years. Turkish investments in the UAE amount to $720 million, according to official figures.

During recent talks aimed at enhancing cooperation between the two countries, the two sides discussed plans to diversify economic opportunities of common interest, collaborate on practical measures to expand trade and trade cooperation. and investment, as well as to address and address challenges through cooperation.

The UAE government has expressed its intention to try to double or triple its trade volume with Turkey, while Turkey has expressed its hope to increase its share of investment in the UAE in various fields. , including renewable energy and infrastructure.

The roundtable is expected to host 25 delegates from Turkey as well as 25 representatives from the construction and development sectors of the UAE.

Sharon P. Juarez