Turkish Investors Eye UAE for Growth
(MENAFN) The United Arab Emirates is increasingly becoming a promising destination for Turkish investors, with Dubai emerging as a central hub for regional outreach.
This observation was shared by the head of the Turkish Business Council in Dubai and the Northern Emirates during a networking gathering celebrating the council’s 21st year of operation.
The commemorative event served as a platform for Turkish entrepreneurs residing in the UAE to connect and share insights.
Among the notable attendees was Turkish Ambassador to Abu Dhabi, Lutfullah Goktas.
The Turkish Business Council, a non-profit entity rooted in the UAE, plays a pivotal role in linking Turkish enterprises with wider economic ecosystems throughout the country.
Kanat Kutluk, the Council’s President, stated in an interview with a news agency that the Turkish community in the UAE has expanded dramatically—from 10,000 residents five years ago to over 50,000 now.
This rise reflects the increasing business engagement between the two nations.
He emphasized that the 2023 signing of the Comprehensive Economic Partnership Agreement (CEPA) laid the foundation for a substantial increase in bilateral commerce, with projections suggesting trade could climb from USD19 billion in 2023 to USD40 billion within half a decade.
“The UAE market is not confined to Dubai,” Kutluk explained. “There is a market of billions of people with a reach of $35 trillion within a 3.5-hour radius — it is possible to influence this market via Dubai and then move toward regional cooperation.”
His comments underscore Dubai’s strategic location and its potential as a gateway for broader market penetration.
Kutluk also highlighted Dubai’s D33 economic blueprint, which seeks to double the emirate’s gross domestic product within the next ten years, as a major avenue for Turkish corporations to explore.
“There are Turkish firms with revenues in the billions,” he remarked. “If used properly, we can secure a significant share from Dubai’s D33 project. Food has been a leading investment category, but serious growth is expected in the defense industry, IT services, and artificial intelligence.”
His statement points to emerging sectors where Turkish innovation and expertise could find strong footing in the UAE’s dynamic economy.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
