Investments by Dubai companies in Turkey hit $2 billion

Friday, 11 October 2024 15:16

By ARN News Staff

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.

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