Jafza-Turkey trade grew 15% in 2011
- United Arab Emirates: Wednesday, November 14 - 2012 at 16:28
- PRESS RELEASE
Jebel Ali Free Zone (Jafza), the flagship entity of Economic Zones World (EZW), has seen an impressive turnaround in its trade with Turkey in 2011. The total Jafza-Turkey trade in 2011 grew to Dhs2.14bn, an increase of 15% over its trade of Dhs1.85bn in 2010.
These trade figures were revealed by Jafza officials during a road show the Free Zone recently conducted in Turkey to strengthen Turkey-Jafza trade ties by attracting more Turkish companies into the zone.
Mr. Talal Al Hashimi, Managing Director, EZW-UAE Region, commenting on the robust increase in bilateral trade between the two sides and the possibilities for further growth said:
"Since Jafza-Turkey trade is largely meant for re-exports to rapidly growing markets in the region, the upswing demonstrates a growing demand and the huge possibilities for Turkish products in the Middle East. Turkey's industry and service driven economy can substantially grow by choosing Jafza as its regional base, boosting Turkey's exports to the Middle East in addition to Europe, which is Turkey's existing major export market."
Mr. Al Hashimi was speaking at the Jafza Business Seminar during the Free Zone's road show in Istanbul, a city which is considered the trade and industrial capital of Turkey. Istanbul accounts for 38% of Turkey's total industrial production and 55% of the country's total wholesale trade.
"At present, Jafza-Turkey bilateral trade is less than 1.5% of Turkey's overall trade of Dhs115bn with the Arab World in 2011, which in itself is very meager, less than 9% of Turkey's total trade of Dhs1.3 trillion. This demonstrates there are huge opportunities to enhance mutually beneficial trade and business ties between the two sides," Al Hashimi added.
Adil Al Zarooni, Senior Vice President, Global Sales speaking at the seminar said: "We are overwhelmed by the enthusiastic support and interest shown by Turkish companies in Jafza facilities and Jafza's strategic strength as the gateway and business hub for the entire Middle East region. Jafza offers an unmatched trade and logistics platform to Turkish companies in order to enable them to reach and serve the rapidly growing Middle East markets at rapid pace."
The Jafza Business Seminar and Roadshow in Istanbul and Ankara aimed to create greater awareness about Jafza as a thriving business hub for the region and an ideal investment destination among Turkish businesses, both Small and Medium Enterprises (SMEs) and Multinational Companies (MNCs), who are interested in expanding their businesses into the rapidly growing Arabian Gulf and the Middle East markets.
Jafza successfully evoked strong interest for the Free Zone among the Turkish business community and trade promotional bodies gathered at the Jafza Business Seminar, including leading Turkish SMEs and MNCs, government officials, HE the UAE Consul General in Turkey. The Jafza delegation was made up of senior officials, including Talal Al Hashimi, MD, EZW-UAE Region, Adil Al Zarooni, Senior Vice President, Saood Al Khloofi, Regional Manager, Middle East, Jafza Global Sales and Orient Consultancy, the Jafza representative in Turkey.
Jafza also conducted a mini seminar in HSBC headquarters in Istanbul where it met with some Turkish businessmen interested in the Middle East markets. Jafza delegation met several MNCs, SMEs and business associations including Istanbul Chamber of Commerce and Ministry of Economy, in Istanbul and Ankara during its 6-day Roadshow in Turkey.
The road show was in line with Turkey's intent to more than triple its trade with Arab League countries over the next five years, a goal announced at the 2nd Turkish Arab Industrial Cooperation conference in Benghazi, Libya in early June, 2012.
"Jafza's Turkey road show, which included seminars and business meetings, is just a part of Jafza's contribution to achieving this mutually shared goal," Adil Al Zarooni commented.
Looking at the keen interest shown by Turkish business community Jafza expects strong growth in the number of Turkish companies in Jafza in 2012.
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