9/28/2010

Turkey-UAE trade volume returning to pre-crisis levels

Today’s Zaman - The United Arab Emirates (UAE) Ambassador to Turkey, Khalid Khalifa Al-Mualla, said he is happy to see Turkey has a renewed focus and new vigor with regard to relations with Arab countries in the Middle East. Al-Mualla emphasized that he is pretty much occupied with promoting business deals between the two countries. In fact, recent trade figures show the trade volume between Turkey and the UAE increased steadily from 2001 through 2008, but took a sharp dive in 2009 due to the economic crisis. However, it is now bouncing back well in the first half of 2010. There was a trade volume of almost USD 9 billion between Turkey and the Emirates in 2008, ranking the UAE the third most important trading partner for Turkey’s exports. On the other hand, UAE investors are looking to invest in Turkey, especially in the areas of agriculture, food, energy, health, logistics, and property development, the diplomat explained. “You are blessed with abundant natural resources such as water and minerals. The human resources pool is very good for foreign investors who are keen to capitalize on skilled labor and professional employees,” said Al-Mualla. He also stated that Turkey has removed a lot of restrictions for foreign businesses that operate in Turkey, making the country investor-friendly. The UAE’s investments in Turkey amounted to USD 5 billion by December 2009.

turkey; uae; emirates; khalid khalifa al-mualla; turkey-uae; uae investor; arab country

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