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FINANCIAL NEWS
UAE-Turkey bilateral trade to reach USD9.98b by 2015
31 Jan 2012
(MENAFN) UAE’s Department of Economic Development (DED) said that trade between the country and Turkey would be forecasted to rise from USD4.4 billion at the current time, to nearly USD9.98 billion by 2015, reported Gulf News.
On the other hand, Abu Dhabi Chamber of Commerce and Industry (ADCCI) said that the number of Turkish firms in the emirate reached 30, whereas the number of UAE companies operating in Turkey was 13.
Moreover, Turkey would play a major role in the UAE’s push to expand non-oil trade as the Abu Dhabi Government planned to increase the share of non-oil industries in the emirate’s gross domestic product (GDP) between 6 percent and 7 percent, in order to reach 64 percent by 2030.
It is worth noting that Turkey’s main exports to the UAE are iron and steel, textiles, and electrical machinery, whereas imports are dominated by gold, gold-plated silver, and base metals.
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