Sharjah Chamber of Commerce and Industry signs new partnership agreement with Izmir Chamber of Commerce

SCCI Director General Hussein Al Mahmoudi led the visit, which was highlighted by the signing of a new partnership agreement with Izmir Chamber of Commerce.

The SCCI's Turkish tour included visits to the Investment Development Authority, the Chambers of Commerce of Istanbul and Izmir, and several major commercial companies.

Al Mahmoudi met the president of the Izmir Chamber after a short tour of Izmir City, during which they discussed closer relations between their two chambers.

They also signed an agreement that facilitates the sharing of economic and commercial information as well as the exchange of investment opportunities and cooperation in trade exhibitions.

The deal also involves the accommodation of trade delegations, commercial arbitration, and the search for solutions to impediments to trade.

"The agreement with the Izmir Chamber is a major step towards creating a spirit of goodwill among the region's chambers. Such partnerships allow us to share the information we need to take mutual advantage of our respective country's commercial opportunities and strengths. We consider the Izmir Chamber and Turkey in general as valued allies in our shared quest for sustained development and progress," said Al Mahmoudi.

The SCCI Director General also attended the inauguration of the 77th Izmir International Fair, accompanied by a UAE delegation which included Abdullah Bin Ahmed Al Saleh, Director General of the UAE Ministry of Foreign Trade, and Shaheen Ali Shaheen, Assistant Secretary General, Federation of UAE Chambers of Commerce and Industry.

The exhibition provided the delegates a valuable glimpse into Turkish partnership and investment prospects and its favourable business climate.

"This visit has further motivated us to capitalize on every business opportunity offered not only by Izmir but by the entire country. SCCI will be collaborating with Sharjah's investors on how to better position ourselves in Turkey's booming markets," said Al Mahmoudi.

The UAE and Turkey maintain strong economic ties, with trade volume between the two countries hitting $3.7bn in 2007.

Turkey exports mainly iron and steel, textiles, clothing and accessories to the UAE, while the UAE trades mainly gold and silver products.

Around 21 Turkish companies, 27 trade agencies and 244 trade marks can be found in the UAE.

Turkey recently unveiled plans to invest an additional $40bn in the UAE within the next five years during the World Economic Forum held in Abu Dhabi in January 2008.

The UAE meanwhile currently has around $4bn in Turkish investments.

The Turkey visit was part of SCCI's regional and international travels to expand its external partnerships.

The Chamber recently visited Europe to explore global best practices and exchange ideas with major organizations, culminating with a meeting at the World Trade Organization headquarters.

SCCI will continue to dialogue with overseas governments and partners in its capacity as the primary organizer of economic activities for the emirate of Sharjah.