TİM Organized a Conference on Dubai Free Zone Investment & Cooperation Opportunities with DMCC, the Most Important Trade Center of the Middle East

Turkish Exporters Assembly (TİM), the only umbrella organization of more than 100,000 exporters with 61 exporters' associations and 27 sectors, held a conference on UAE (DUBAI) Free Zone Investment and Cooperation Opportunities with the Dubai Multi Commodities Center (DMCC) at the Istanbul Foreign Trade Complex on Thursday, March 10, 2022.

TİM Chairman İsmail Gülle said, “The convergence in diplomatic relations is gratifying for us as an export family. In line with the principles of peaceful coexistence, establishing stronger trade and economic relations with the countries of the region with which we share a common history and culture will be of common gain.”

Turkish Exporters Assembly (TİM) held the “UAE (DUBAI) Free Zone Investment and Cooperation Opportunities” conference on Thursday (March 10th) at the Istanbul Foreign Trade Complex together with the “Dubai Multi Commodities Center (DMCC),” one of the major trade centers of the Middle East. Mr. Ahmet Sultan Bin Sulayem, Chairman and CEO of the Dubai Multiple Commodities Center (DMCC), and Mrs. Fatma Nilgün Emrem, President of UAE Dubai and the Northern Emirates Turkish Business Council, attended the conference hosted by TİM Chairman Mr. İsmail Gülle, which focused on opportunities at the DMCC.

DMCC Free Zone Representative Mr. Mohammed Al Falasi gave a presentation to the participants at the conference after the opening speeches of TİM Chairman Mr. İsmail Gülle, Dubai Multi Commodities Center (DMCC) Chairman and CEO Mr. Ahmet Sultan Bin Sulayem, and Mrs. Fatma Nilgün Emrem, President of the Turkish Business Council of UAE Dubai and the Northern Emirates. Following the technical presentation, the “Investment Opportunities in the Leading Trade Center of the Middle East” panel was held, where DMCC Commodities and Financial Services Director Mr. Sanjeev Dutta, Tamimi Consulting Founder Mr. Tarık Tamimi, and DMCC Free Zone Representative Mr. Mohammed Al Falasi were speakers. After that, the panelists answered questions from the participants.

Speaking at the opening of the conference, TİM Chairman İsmail Gülle stated that with the conference they will evaluate the opportunities at DMCC, a real trade center with an investment area of 2 million square meters, where more than 20,000 companies are members, and which is designed according to the modern needs of global trade.

“UAE has become strong with the investments”

Noting that the United Arab Emirates has made a major transformation in its economy by directing its riches to its investments, TİM Chairman İsmail Gülle said, “The UAE is an important country in the commercial, political, and economic sense of our region. The Emirates have become very strong today with investments in the trade, tourism, education, and service sectors.”

Export Family pleased with the development of relations with UAE

Stating that Türkiye and the United Arab Emirates, two important actors of the region, have recently made significant improvements in bilateral relations, especially in the economy, TİM Chairman İsmail Gülle said, “I would like to express that the development of diplomatic relations is gratifying for us as an export family. Establishing stronger trade and economic relations with the countries of the region, where we share a common history and culture in line with the principles of peaceful coexistence, will be a common gain.”

Türkiye's export to the United Arab Emirates increased by 95 percent to $5.5 billion

Noting that the trade relations between the UAE and Türkiye have great potential, TİM Chairman İsmail Gülle shared the export figures between the two countries last year. In 2021, Türkiye's exports to the United Arab Emirates increased by 95 percent to $5.5 billion, while the United Arab Emirates' export to Türkiye reached $2.5 billion in 2021. TİM Chairman Gülle said, “This strong growth momentum will undoubtedly accelerate. 10 separate agreements, was signed between Türkiye and the United Arab Emirates on November 24th, are extremely important. As a result of these agreements, we have a very valuable opportunity to develop cooperation in the fields of energy, petrochemicals, technology, transportation, infrastructure, health, financial services, food, and agriculture.”

Trade relations with UAE move into a new era

Stating that on February 14th, President Recep Tayyip Erdoğan visited the UAE with a comprehensive delegation, TİM Chairman İsmail Gülle said, “During the visit, which we received great hospitality, 13 more agreements were signed between the two countries in critical areas such as health, climate, industry, technology, and agriculture. As Turkish Exporters Assembly, we held our first physical trade delegation after the pandemic in the United Arab Emirates on the same dates. More than 100 exporters from 22 sectors held more than 500 bilateral business meetings with more than 300 company representatives from the United Arab Emirates at the delegation. At the same time, we opened Turkish Day at Dubai Expo. Hundreds of our exporters participated in Gulfood food fair. We visited our companies at the fair and showed them our support. The United Arab Emirates is a country where our exporters want to exist more and have a variety of opportunities. For this reason, we carry out the works that will be the basis of our trade volume. Hopefully, we will increase our export more in this process.”

“In terms of increasing our potential export, DMCC is a special and important door”

Informing that the sectors that export the most on a sectoral basis in Türkiye's export to the UAE are jewelry with $1.2 billion in export, chemicals with $201 million in export, and ready-to-wear sector with $185 million in export, TİM Chairman İsmail Gülle said that all three sectors have the strengths to further multiply their potential and exports. TİM Chairman İsmail Gülle continued: “In addition to these sectors, we also have very important sectors where we can increase our export even more. When we look at the sectors with the lowest ratio of export to potential export, non-ferrous metals stand out with a 16 percent increase, automotive with a 23 percent increase, and fresh fruit and vegetable sectors with a 28 percent increase. We export with 44 percent of our potential, including ready-to-wear, which is the third sector we export the most. In order to evaluate these opportunities, the DMCC is a special and important door. 444 Turkish companies, in the service sectors such as food, engineering, technology, and marketing, are a member of DMCC. In a trade center with more than 20,000 registered companies, this number could go much higher.”

6 trade delegations were held in the United Arab Emirates and 10 in total to the Gulf Region

TİM Chairman İsmail Gülle stated that as Turkish Exporters Assembly, they brought together more than 100,000 Turkish exporters with buyers from all over the world with virtual, sectoral, and general trade delegations. Gülle added that they showed how determined they are to improve bilateral trade despite the pandemic with 110 trade delegations in 73 countries since the beginning of the pandemic period.

Underlining that they carried out 6 trade delegations to the United Arab Emirates and 10 trade delegations to the Gulf Region during the pandemic period, TİM Chairman İsmail Gülle said, “In addition, we have signed very important projects that will change the face of Turkish export. We launched TİM Brand Council, TİM Women's Council, and Young TİM in a very short time and mobilized all the dynamics in our export separately. We organized virtual and general trade delegations within these target groups and made a total effort with the export family together. All these projects were reflected in the foreign trade figures of our country in a very positive way. Our foreign trade volume came close to 500 billion dollars last year. Now, we are marching decisively towards new goals ahead. I believe that with the new era in relations between the two countries, we will build the bright days in bilateral trade by working together.”

“We made history in 2021. We continue this year.”

Stating that they closed 2021 with a historical export figure as an export family and continued to make history this year, TİM Chairman İsmail Gülle said, “As in January and February, we are heading towards export this month well above last year. The conjuncture after the pandemic supports Türkiye and continues to do so. We see that the interest in Turkish products is very great in every fair we go to and every visit we have in commercial relations. In addition, Türkiye, with its geopolitical position, is a very important power that provides a balance in this warm environment around us, and we are the commercial power of this power. We should follow these developments in the world well and make good use of these trade opportunities towards Türkiye.”

TİM Chairman İsmail Gülle, who gave important advice and warnings to exporters, continued: “We should not sell our products, which are very valuable to us, cheaply. Energy is expensive, raw materials are expensive, everything has worth something. We should not sell Türkiye's values cheaply. Do not send goods to anyone in exchange for goods. Make them insured, make them reliable, and do a job you earn money. We are in an important period for our export. While many companies around the world want to do business with Türkiye, we must appreciate it.”

(DMCC) Chairman and CEO Ahmet Sultan Bin Sulayem: There are many opportunities we can explore in Türkiye

Ahmet Sultan Bin Sulayem, Chairman and CEO of DMCC, stated that they are here to take advantage of the opportunities, unlike their previous visits. We want to cooperate with Borsa İstanbul. Türkiye has great advantages due to its position.” Sulayem continued: “The DMCC is not only a free zone, but it is also one of the important commercial hubs of the UAE. We work with big brands. Coffee is very important for us, there are stocking and packaging mechanisms for coffees in the region. The coffee industry is very important to us.”

“The DMCC has 400 members from Türkiye. But I am sure that number will increase further in the future. By coming to DMCC, you can find new opportunities for your company. From here you can also improve your business with the Middle East. Dubai's logistics are changing. The Diamond Industry is also developing a lot. We have made a deal with India. India has decided to cut some taxes so that the volume of trade will increase.” Sulayem said.

Ahmet Sultan Bin Sulayem, Chairman and CEO of DMCC continued, “I would say, the construction of a railway corridor between Türkiye-Iran-UAE is on the agenda. The old trade route was lasting about 20 days. This new route between Türkiye-Iran-UAE will save a great deal of time by reducing the journey from 20 days to 6-8 days. I think we will see this kind of improvement again soon. I think about this not only for the present but also for the future.”

“By examining different projects, we created the project that we are currently creating and built the diamond tower. A Turkish company will build the gold and silver tower. Turkish companies can also take their place in the market by buying offices from these buildings. There are many opportunities to explore in Türkiye. The DMCC is stronger than ever, and we want you to take advantage of this power.” he also said.

Fatma Nilgün Emrem, President of the Turkish Business Council of UAE Dubai and the Northern Emirates: Our door is open to all Turkish companies

Stating that the UAE Dubai and Northern Emirates Turkish Business Council is a non-profit organization established under the Chamber of Commerce in Dubai, Fatma Nilgün Emrem, president of the Turkish Business Council of UAE Dubai and the Northern Emirates, said, “We are trying to guide our Turkish companies coming to the UAE. The Free Zone is the main sponsor of our council. Our office is inside the DMCC. Our council has over 500 members. Our door is open to all Turkish companies. We also have activities in the non-business social sense. We promote Turkish culture and Türkiye's national values there.”

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