Turkey UAE Trade Back to 2008 Levels

Posted on 29 September 2010

The United Nations Ambassador to Turkey has said his time is dominated by promoting and facilitating business deals and investments between the two countries, as Turkey/UAE trade returns to near 2008 levels.

Al-Mualla said that he is happy to see Turkey has a renewed focus and new vigour with regard to relations with Arab countries.

After rising steadily between 2001 and 2008, trade between the two countries took a nose-dive in 2009, but has risen strongly in the first half of 2010 according to trade figures recently released.

According to the data, volume of trade between Turkey and the UAE stood just shy of 9 billion USD in 2008, with the Emirates the third biggest importer of Turkish exports.

Al-Mualla pointed out that while the UAE is very important to the Turkish export industry, that UAE investors are looking very keenly at investments in Turkey, with a particular focus on energy, health, logistics, agriculture, health and property development. According to Al-Mualla, the investors are particularly attracted to Turkey’s great human resources pool, which complements its vast natural resources, he said:

“You are blessed with abundant natural resources such as water and minerals. The human resources pool is very good for foreign investors who are keen to capitalize on skilled labor and professional employees,” said Al-Mualla. Investments in 2009 totalled 5 billion USD in 2009.

He also stated that Turkey has removed a lot of restrictions for foreign businesses that operate in Turkey, making the country investor-friendly.

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