With its strategic location, young population and economy, Turkey is prospering on the back of improved political and economic stability. Improved governance, increasing levels of Gross Domestic Product (GDP) and government incentives have created lucrative trade and investment opportunities in this growing consumer economy.
The study further revealed that Dubai and UAE investors should evaluate the risks and possibilities for themselves and initiate long-term relations with their Turkish partners. This will ensure that they are positioned to profit from this country's advance to become one of the major economies of the world.
The study informed that Turkey which for years has looked westward, seems to have finally realized that it can also offer the east a model of stability and prosperity. This coupled with its historical and linguistic ties with, among others, Central Asian countries means that Turkey's prospects are not only due to its domestic economy, but also because it can be a bridge from the Middle East to Central Asia and Eastern Europe.
Turkey's economy has experienced an economic revival in recent years. Its economic growth, coupled with government efforts to look eastward, is enabling Turkish enterprises to use their expertise, linguistic and historical ties in many regions.
Turkey is becoming an increasingly important market for UAE importers and exporters. In 2009, the UAE imported Dh9.4 billion worth of items from Turkey, while it exported Dh681 million worth of items and re-exported Dh414 million worth of items to Turkey.
From 2001 to 2009, imports from Turkey to UAE grew at a Compound Annual Growth Rate (CAGR) of 194 per cent, while exports grew at a CAGR of 47 per cent and re-exports at a CAGR 31 per cent. Turkish exporters are therefore trading more with their UAE counterparts, while UAE exporters have also made some inroads into this important market.
Source : https://www.zawya.com/Story.cfm/sidZAWYA20100916032224/Turkey%20offers%20big%20opportunities%20for%20UAE%20businesses - Sept 16, 2010
