DMCC Sees 11% Surge in Turkish Companies as UAE-Trkiye Trade Flourishes

ISTANBUL: DMCC has reported an 11% increase in the number of Turkish companies joining its international business district over the past year, bringing the total to 643. This rise was announced during DMCC's 'Made For Trade Live' roadshow in Istanbul, amid robust trade and investment growth between the UAE and Trkiye. According to Emirates News Agency, the first half of 2024 saw a 15% increase in trade between the UAE and Trkiye, following a 107% surge in 2023. This growth was propelled by the Comprehensive Economic Partnership Agreement (CEPA) signed in March 2023, which has positioned Trkiye as the fastest-growing partner among the UAE's top 10 global trading partners. During the event, Turkish companies were briefed on the trade and investment opportunities available via Dubai and DMCC, with a focus on key industries such as precious metals, jewellery, energy, and Web3 technologies. DMCC offers tailored ecosystems and infrastructure to support growth in these sectors under the CEPA framework. Dr. Hamad Buamim, Chairman of the Board of DMCC, commented on the strengthened UAE-Trkiye trade relationship, highlighting the 11% increase in Turkish companies joining DMCC. He noted the strategic importance of the representative office opened in Istanbul a year ago and expressed optimism about further growth in Turkish company participation. The Made For Trade Live event, organized in collaboration with Tamimi Consulting, brought together 150 Turkish business leaders to explore growth opportunities through DMCC. This roadshow is part of DMCC's global initiative to position Dubai as a premier destination for foreign direct investment (FDI), to which the international business district contributes 15% annually. In 2023, DMCC recorded its second-best year by attracting nearly 2,700 new companies, and it now hosts almost 25,000 businesses worldwide.