Dubai-based companies have invested nearly $2 billion in Türkiye from 2018 through the first half of 2024 while Turkish investments in Dubai’s market amounted to approximately $100 million between 2015 and 2023, said Mohammad Ali Rashed Lootah, president and CEO of Dubai Chambers, during a trade mission to the country.
The Dubai International Chamber’s trade mission to Türkiye sought to boost bilateral trade and investment ties between the UAE and Türkiye. It follows last year’s signing of a Comprehensive Economic Partnership Agreement (CEPA), marking a key step in deepening economic relations between the two countries.
Lootah added that the number of Turkish companies that have registered as active members in the Dubai Chamber of Commerce grew from 315 in 2014 to over 3,257 by mid-2024, an increase of 934 percent over the past decade. He attributed this growth to Dubai’s global competitiveness and business-friendly environment.
Lootah also emphasized key trade sectors such as metals and stones, noting their strong performance. In addition, he pointed to the digital economy as a promising area for future growth. He encouraged Turkish firms, known for their software expertise, to tap into opportunities to export digital services from Dubai to European markets.
Read: Dubai Chambers inks 7 agreements with Türkiye to drive collaboration in promising sectors
In a bid to further strengthen ties with Türkiye, the chamber signed seven memorandums of understanding (MoUs) with key players in the country and arranged 243 bilateral business meetings in Istanbul between companies from Dubai and Türkiye to explore opportunities for business growth and economic partnerships in both markets. The agreements pave the way for more opportunities for cooperation between Dubai-based companies and their Turkish counterparts to drive collaboration in promising sectors.
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