Dubai Chamber discusses strengthening bilateral ties with Turkey’s Economy Minister

H.E. Abdul Rahman Saif Al Ghurair, Chairman, Dubai Chamber of Commerce and Industry, explored ways of enhancing economic cooperation with H.E. Zafer Caglayan, Turkey's Minister of Economy during their meeting held at Murooj Rotana Hotel on Monday. The minister is in town to attend the launch of the Annual Investment Forum 2012.

During the meeting, H.E. Al Ghurair emphasised on the growing commercial relationship between the two countries as he stated that presently there are 280 Turkish companies operating in Dubai while non-oil trade between Dubai and Turkey reached around AED 12.3 billion in the first 10 months of last year, making Turkey Dubai’s 19th largest trade partner.

H.E. Al Ghurair reiterated Dubai Chamber’s commitment to cooperate with Turkey in all economic areas and to provide full support to all Turkish companies in promoting their products in Dubai. He called upon Turkish businesses to use Dubai’s status as a global business destination and a gateway to investment in the region offering easy access to the GCC countries, Africa and Southeast Asia.

The Chairman of Dubai Chamber stressed that trade, tourism, logistics and financial services are the pillars of Dubai’s economy as he urged Turkish businesses to invest in these areas and to benefit from the emirate’s vibrant business environment.

On his part, H.E. Zafer Caglayan, Turkey's Minister of Economy, stated that he looked forward to increasing the volume of trade between the two countries and emphasised on the importance of Turkey’s geographic location in Europe and the size of the consumer market in his region.

He also stressed on volume of investments in the energy sector in Turkey which he said is expected to reach $130 billion in the next ten years along with $110 billion in railways while pointing out that the recent investment stimulators released by the Turkish Government is considered one of the best in the world and called upon Dubai businesses to benefit from the lucrative investment opportunities offered by his country.