Istanbul Chamber of Commerce Chief visits Dubai Airport Freezone

Al Zarouni made this comment after welcoming a high-level Turkish delegation led by Ibrahim Caglar, Chairman of Assembly of the Istanbul Chamber of Commerce. He was accompanied on the visit by Umit Yalcim, Consul General of Turkey, to discuss business opportunities and ways to attract more Turkish companies to take advantage of investment opportunities available in Dubai and the neighbouring Gulf countries.

Dr. Al Zarouni briefed the delegation on the privileges and services provided by Dubai Airport Freezone, with over 1450 companies in various industries and commercial sectors.

"The Dubai Airport Freezone will spare no effort to provide all support for the Turkish companies that would be setting up a business in Dubai, especially in Dubai Airport Freezone which provides vital services and facilities to create a wholesome work environment and achieve the commercial goals of the companies," Al Zarouni said.

He invited Turkish companies to benefit from the major markets that surround the region by encouraging Turkish companies to work from Dubai.

"We look forward to a genuine partnership with Turkish companies, which are known for quality products and competitive prices. I am sure this winning combination would make Turkish made goods a favourite in the region," he said.

"This visit aims to identify incentives, services and facilities provided by the Freezone to Turkish and other companies wishing to invest in Dubai," said Mr. Caglar.

Mr. Caglar said Dubai has good infrastructure and the Freezone offers investors attractive services and facilities. "This is a key element in attracting investment to Dubai. We will promote this to the members of the Turkish chamber that comprises major organizations opting to invest in UAE."

Caglar said that Turkish companies could take advantage of the excellent location of the Freezone and its services & facilities for investors and multinational companies.

His Excellency Umit Yalcim, Consul General of Turkey, said the trade volume between UAE and Turkey was valued at Dhs29m in 2009.

"We are optimistic that by 2010 things will improve. There are already indications of positive developments. Last month the Turkish AKB bank was licensed at the DIFC and Turkbank was licensed in Kuwait as well."

He added that apart from the high level trade delegation which visited the Dubai Airport Freezone, the Turkish Foreign Minister visited his counterpart in the UAE three weeks ago and a Turkish women's delegation participated in the Arab Women's Leadership Forum. Last week, the Turkish Prime Minister visited the UAE.

The envoy added that Turkey's main exports to the UAE are steel, furniture, jewellery and food items while 8,000 Turkish expatriates are working in Dubai.

He also noted that UAE, particularly Dubai, is a fertile land for investment, which is clearly known to Turkish investors as many leading Turkish companies and banks have joined the growing number of investors in Dubai and GCC as a whole. "That means a deep relationship between the two countries and the wish to be present in the region which we seek to develop through encouraging Turkish companies to open an office in the UAE."

During the visit, a Memorandum of Understanding (MoU) was signed with Interlink Business Services to attract Turkish companies to operate from Dubai and Dubai Airport Freezone.