The Dubai Multi Commodities Centre (DMCC) has announced a remarkable 14% annual growth in the number of Turkish companies registered in its free zone, surpassing the milestone of 700 companies. This significant increase was revealed during the latest promotional roadshow, “Found for Trade,” held in Istanbul. The expansion of Turkish enterprises within the DMCC highlights the strengthening trade and investment ties between the UAE and Turkey, boosted by the comprehensive economic partnership agreement that came into effect in 2023.
Boost in Turkey-UAE Trade Relations
According to the DMCC’s statement, the surge in Turkish businesses reflects an increasing dynamic in bilateral commercial activities. This growth is complemented by the comprehensive economic partnership agreement, which aims to enhance collaboration between the two nations. The agreement has laid the groundwork for expanding trade and fostering a conducive environment for investment opportunities.
Impressive Trade Figures
Statistics from the Ministry of Foreign Trade demonstrate the strength of trade relations, with non-oil trade between Turkey and the UAE reaching $44 billion for the period from September 2024 to August 2025. This figure shows an annual growth rate of 12%, exceeding the initial five-year goal established by the agreement, which aimed for $40 billion. These achievements highlight the potential for ongoing growth in trade volume between the two countries.
Focus on Key Sectors
Ahmad bin Sulaiman, the CEO of DMCC, noted the specific sectors driving the growth of Turkish companies. “We have recorded over a 14% increase in the number of Turkish businesses joining our community over the past year, driven by our systems that reflect Turkish strengths in sectors such as energy, shipping, precious metals, coffee, tea, and honey,” he stated. This diversification across key sectors emphasizes the value that Turkish companies bring to Dubai’s trading ecosystem.
Future Prospects
The future looks bright for Turkish companies in Dubai. As more businesses continue to establish their presence in the DMCC, the collaboration between Turkey and the UAE is likely to deepen. This growth not only affirms the appeal of the Dubai market but also reinforces the strategic partnership that both nations are forging to capitalize on economic opportunities.
With over 700 Turkish businesses thriving in the DMCC, the implications for trade and investment are significant, offering numerous avenues for growth and collaboration. As the economic landscape evolves, this partnership may serve as a model for future cross-border collaborations in the region.