UAE offers significant cooperation opportunities for Turkish investors
Date
12/26/2024 4:27:04 AM
(MENAFN) Kanat Kutluk, head of the Dubai Turkish Business Council, emphasized that the United Arab Emirates (UAE) offers significant cooperation opportunities for Turkish investors, especially through the UAE's various vision projects. These initiatives open doors to access a region with a combined USD35 trillion economy. According to Kutluk, the UAE is a key trade partner for Türkiye, with bilateral trade reaching USD17.7 billion last year. Prominent Turkish exports to the UAE include silver, motor vehicles and parts, carpets, textiles, and more.
Kutluk also highlighted the potential for growth in sectors such as renewable energy, pharmaceuticals, health tourism, and hospital infrastructure investments, all of which are in high demand. He pointed out that the UAE’s strategic location enables Turkish firms to tap into markets across the Middle East, Asia, and Africa, particularly in industries like energy, infrastructure, technology, real estate, and tourism, offering substantial opportunities for Turkish businesses.
Discussing the UAE’s ambitious vision projects, Kutluk mentioned the We the UAE 2031 plan, which aims to boost the UAE’s GDP to USD816.3 billion and increase foreign trade to USD1.1 trillion by 2031. Additionally, the UAE Centennial 2071 vision focuses on improving education and societal well-being, while the Dubai Economic Agenda D33 aims to position Dubai among the top three cities globally for investment and quality of life.
Kutluk also referred to the Dubai 2040 Urban Master Plan, which includes projects to enhance urban areas and optimize resource use, with a projected cost of USD106.2 million, along with other significant developments, including a beach construction budget of USD96.7 million and a USD17.7 billion housing project. He further noted that the consortium of Turkish firms, Mapa-Limak, recently secured the Dubai Blue Line contract, marking a new milestone in the Turkish construction industry.
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