Dubai-based companies have invested nearly $2 billion (AED 7.3 billion) in Turkey from 2018 to mid-2024, while Turkish investments in the emirate totalled $100 million (AED 367.3 million) from 2015 to 2023.
That's according to Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, who is leading a trade mission Turkey, which includes 16 companies from Dubai.
Lootah told national news agency WAM that the visit aims to strengthen UAE-Turkey economic ties following last year’s Comprehensive Economic Partnership Agreement (CEPA).
He highlighted a 934% increase in Turkish companies registered with the Dubai Chamber over the past decade (from 315 in 2014 to more than 3,257 by mid-2024) and pointed to sectors like metals, stones, and the digital economy as key growth areas.
Lootah also encouraged Turkish firms to explore opportunities for exporting digital services from Dubai to Europe.
Jebel Ali Free Zone (Jafza) has solidified its status as a global leader in trade and logistics, taking home five major accolades at the fDi Global Free Zones of the Year 2024 awards.
The UAE and Malaysia have officially concluded negotiations for a Comprehensive Economic Partnership Agreement (CEPA), aimed at eliminating or reducing tariffs, lowering trade barriers and fostering collaboration between private sectors while opening new investment pathways.