Investments between Turkey, UAE up to USD10b

04 Mar 2011

(MENAFN) The Turkish Ambassador to the UAE, Vural Altay, said that tourism, energy and construction encouraged investments between his country and the UAE to increase to USD10 billion in 2010, reported Gulf News.

Altay said that it is expected for deals between the 2 countries to rise to between USD1 billion and USD5 billion in 2011.

The ambassador said that investments in the real estate sector account for fifteen percent of Turkish foreign direct investments (FDI). He added that the real estate sector is currently one of the emerging sectors in Turkey.

According to the ambassador, the UAE’s investments in the tourism and energy sectors in Turkey reached USD4 billion in 2010.

On the other hand, Turkish investments in the UAE, mostly in the construction sector, amounted to USD6 billion in 2010.

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