A high-profile council will convene in Dubai next week, with delegations from the UAE and Turkey discussing ways to further cooperation, official sources have said.
Called the UAE-Türkiye Real Estate Development Construction Roundtable, it will be held on Wednesday, March 30.
The meeting will look to widen the trade corridor and strengthen economic ties between the two countries, besides building new bilateral collaborations, said the sources.
It will reportedly be hosted by the UAE-Turkish Business Council, in association with the Foreign Economic Relations Board of Türkiye (DEİK).
It is expected to bring together leading contractors from Turkey and key stakeholders from the UAE real-estate and construction sector.
The roundtable will apparently host 25 delegates from Turkey and 25 representatives from the UAE construction and development sectors.
Hussain Sajwani, chairman of the UAE side of the Turkey-UAE Business Council, was quoted by the sources as saying: “The visit by Turkish President Recep Tayyip Erdogan earlier this year accelerated efforts by Turkey and UAE to continue building upon strategic and economic ties.”
He added: “I am confident that we will continue to hail this mutually respectful symbiosis through dialogue as well support each other, our businesses and our nations.”
The DEİK/Türkiye-UAE Business Council, under the umbrella of DEİK, was established via MoUs between the Abu Dhabi Chamber of Commerce and Industry, the Dubai Chamber of Commerce and Industry, the UAE Federation of Chambers of Commerce and Industry, and the Sharjah Chamber of Commerce and Industry acting as counterpart organizations in 2000.
The UAE is Turkey’s first trade partner and it ranks second in direct investments among the GCC countries, with bilateral trade between the two countries in 2020 recorded at $8 billion.
The UAE government has expressed intent on trying to ‘double or triple’ its trade volume with Turkey, while Turkey has voiced their hopes to ‘increase their investment share in the UAE in various fields including renewable energy and infrastructure.
“The business council aims to improve Turkey’s commercial and investment relations with UAE and partnerships in the countries to contribute in improving and developing political, economic, commercial, and cultural interaction between the two countries,” said Nail Olpak, President of DEİK.