DMCC set to boost Dubai-Turkey trade, hosts collaboration talks

Staff Reporter, Gulf Today

DMCC – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – has successfully concluded a series of Made For Trade Live international roadshows and trade discussions in Istanbul, Turkey.

The events and meetings hosted by DMCC were held following 13 trade agreements signed between Turkey and the UAE in February 2022, to enhance collaboration in areas such as trade, transport, energy, technology and telecommunications.

Highlighting the commercial appeal of Dubai and discussing ways in which DMCC can connect with the Turkish market to boost bilateral trade, the main roadshow of the week, held in partnership with the Turkish Business Council and Tamimi Consulting, convened over 150 Turkish companies looking to expand their business abroad and learning about company formation in Dubai.

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said: “The trade between UAE and Turkey topped Dhs26.4 billion in the first half of 2021, and there is strong appetite and potential to mutually grow trade across countless business verticals. The roadshow events and trade discussions held during our visit to Istanbul, reflect DMCC’s mandate to drive trade and attract new business to Dubai. As ties between UAE and Turkey expand by sea and land, including the upcoming UAE-Turkey rail corridor, we are expecting a major leap of regional connectivity that will unleash immense trade potential at increased speed and less cost. We are thrilled to be on the ground to showcase everything Dubai and DMCC has to offer and are confident we will be unlocking a host of mutually beneficial opportunities.”

DMCC’s second roadshow of the week, also held in collaboration with the Turkish Business Council and Tamimi Consulting, took place at the Turkish Exporters Assembly, representing more than 100,000 exporters with 27 sectors, gathering nearly 200 companies to learn about setting up a business in Dubai.

DMCC also held trade discussions and explored collaboration with TUSIAD, the Turkish Industry and Business Association, whose members represent 80% of Turkey’s foreign trade volume, as well as the Istanbul Chamber of Commerce, one of the largest chambers of commerce in the world, with over 350,000 members.

Commodity and trade discussions were also held with the Istanbul Mineral and Metals Exporters’ Association, operating under affiliation with the Turkish Ministry of Trade and collectively overseeing Turkish commodity exports of $87 billion.

Additional collaboration meetings took place with ITKİB (Istanbul Textile and Apparel Exporter Associations), Istanbul Exporters’ Association, and more.

Fatima Nilgun Emerem, President, Turkish Business Council, Dubai & Northern Emirates, added: “As Turkey-UAE trade relations expand, we are delighted to have partnered with DMCC to co-host roadshows across Istanbul to promote DMCC and showcasing the potential of setting up a business in Dubai to the wider Turkish business community. In addition, the trade focused discussions with Istanbul Chamber of Commerce, the Turkish Industry and Business Association, the Istanbul Mineral and Metals Exporters’ Association, as well as the Istanbul Exporters’ Association, highlight the many areas of future collaboration and business opportunities between Turkey, Dubai and DMCC.”

The events and meetings in Turkey reflect DMCC’s commitment to supporting the international expansion of Turkish businesses, and the increase in attendees reflects strong appetite amongst the country’s business leaders in targeting sustainable growth through Dubai.

In 2021, DMCC’s Made For Trade Live roadshow events played a key role in promoting Dubai as a prime destination for foreign direct investment (FDI), attracting a record-breaking 2,485 new member companies to DMCC, bringing the total number of businesses in the free zone to over 20,000.

Headquartered in Dubai, DMCC is the world’s most interconnected Free Zone, and the leading trade and enterprise hub for commodities. Whether developing vibrant neighbourhoods with world-class property like Jumeirah Lakes Towers and the much-anticipated Uptown Dubai, or delivering high performance business services, DMCC provides everything its dynamic community needs to live, work and thrive. Made for Trade, DMCC is proud to sustain and grow Dubai’s position as the place to be for global trade today and long into the future. www.dmcc.ae

Turkish Exporters Assembly (TİM) is to give direction to Türkiye’s foreign trade, determine export policy, improve market diversity, and for facilitating the competition of exporters in the international arena; its roots, on the instructions of Gazi Mustafa Kemal Atatürk, the founder of our Republic; It is the umbrella organization of our Exporters Associations based on Turkish Joint Stock Company of The Union of Exporters of Live Animal, which was established by Decree No. 2/6107 on March 4, 1937.