DMCC reports 11% growth in Turkish companies

DMCC has announced a rise of 11 per cent year-on-year in Turkish companies joining its international business district, bringing the total number of Turkish companies in the zone to 643.

In the first half of 2024, trade between the two countries rose by 15 per cent, following a surge of 107 per cent in 2023, driven by the landmark Comprehensive Economic Partnership Agreement (CEPA) signed in March 2023. Türkiye has now emerged as the fastest-growing partner among the UAE’s top 10 global trading partners.

The announcement was made during the latest edition of DMCC’s “Made For Trade Live" roadshow in Istanbul, which took place against a backdrop of booming trade and investment between the UAE and Türkiye.

At the event, Turkish companies were introduced to the trade and investment opportunities available through Dubai and DMCC, highlighting the infrastructure and trade facilitation arrangements made possible under the CEPA.

Special focus was placed on industries with heightened value for bilateral growth, such as precious metals and stones, jewellery, energy, and Web3 technologies and services, where DMCC offers tailored ecosystems and infrastructure to support growth.

Chairman of the Board of DMCC, Dr. Hamad Buamim, said, "The UAE-Türkiye trade relationship has entered a new era of growth, which is reflected in the solid 11 per cent rise in Turkish companies joining DMCC in the past year. The opening of our first representative office in Istanbul 12 months ago is a testament to the value we place in this relationship and the significant commercial potential still to be tapped into under the CEPA.

"With over 640 Turkish companies within our international business district, we expect this number to grow considerably in the coming years as we continue to solidify our trade corridor, expand our business connectivity, and build the ecosystems that Turkish companies need to grow globally from Dubai."

In 2023, DMCC recorded its second-best year ever, welcoming nearly 2,700 new companies. Today, it is home to almost 25,000 businesses from around the world.