Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, announced that Turkish investments in Dubai have reached approximately $100M between 2015 and 2023. In contrast, Dubai-based firms have invested nearly $2B in Türkiye from 2018 to the first half of 2024.
During a trade mission to Türkiye featuring 16 Dubai companies, Lootah stated that the purpose of the visit was to strengthen bilateral trade and investment relations between the UAE and Türkiye. This mission follows the signing of a Comprehensive Economic Partnership Agreement (CEPA) last year, which has been a pivotal step in enhancing economic ties between the two countries.
Regarding trade, Lootah highlighted that the number of Turkish companies registered as active members of the Dubai Chamber of Commerce surged from 315 in 2014 to over 3,257 by mid-2024—an increase of 934% over the past decade. He credited this remarkable growth to Dubai’s global competitiveness and business-friendly environment.
Lootah emphasised key sectors such as metals and stones, citing their robust performance, and pointed out that the digital economy presents promising opportunities for future growth. He encouraged Turkish firms, noted for their software expertise, to seize opportunities to export digital services from Dubai to European markets.
This ongoing collaboration signifies the strengthening of ties between the UAE and Türkiye, fostering an environment conducive to mutual economic benefit and long-term partnerships.
