Dubai International Chamber, one of the three chambers operating under the umbrella of Dubai Chambers, has successfully concluded its trade mission to Serbia and Türkiye as part of the ‘New Horizons’ initiative. The chamber signed seven Memorandums of Understanding (MoUs) in Türkiye and arranged 243bilateral business meetings in Istanbul between companies from Dubai and Türkiye to explore opportunities for business growth and economic partnerships in both markets.

In line with its goal of strengthening cooperation, promoting bilateral trade and investments, and building constructive partnerships, Dubai Chambers signed MoUs with the Union of Chambers and Commodity Exchanges of Türkiye (TOBB), theIndependent Industrialists and Businessmen Association (MUSIAD), the Foreign Economic Relations Board of Türkiye (DEİK), Istanbul Chamber of Commerce (ICOC),
Ankara Chamber of Commerce, Ankara Chamber of Industry, and the Turkish Industry and Business Association (TÜSİAD).

The agreements pave the way for more opportunities for cooperation between Dubai-based companies and their Turkish counterparts to drive collaboration in promising sectors. The organisations will collaborate to arrange trade missions, conferences, and business events, as well as engage in the mutually beneficial sharing of knowledge and expertise to support growth and innovation.The MoUs also encompass the exchange of information, consultations, and opportunities for bilateral cooperation in the fields of business and investment policies.

The mission's activities in Istanbul included a special business forum titled ‘Doing Business with Türkiye,’ which was organised by Dubai International Chamber in cooperation with theUAE Consulate in Istanbul together with the Union of Chambers and Commodity Exchanges of Türkiye (TOBB), Istanbul Chamber of Commerce (ICOC),and the Independent Industrialists and Businessmen Association (MUSIAD).The forum featured speeches by H.E. Mustafa Tuzcu, Deputy Minister of Trade of the Republic of Türkiye, H.E. Saeed Saqer AlMheiri, Consul General of the United Arab Emirates in Istanbul,and Ali Kopuz, Vice President of the Union of Chambers and Commodity Exchanges of Türkiye (TOBB).

The event attracted 254participants including senior officials, business leaders, and local companies interested in exploring potential partnerships with members of the chamber’s delegation.

His Excellency Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, commented: “Dubai has growing economic ties with Türkiye, and we look forward to driving the growth of trade and investmentsfollowing the Comprehensive Economic Partnership Agreement (CEPA) signed between the UAE and Türkiyelast year. This trade mission will contribute to enhancing bilateral business connections and expand the scope of investment and commercial opportunities between companies from Dubai and Türkiye.”

The value of non-oil trade between Dubai and Türkiyeachieved year-over-year growth of 106.9%in 2023, increasing from AED 61.1 billionto AED 126.4 billion.The number of Turkish companies registered as active members of Dubai Chamber of Commerce stood at 3,258 at the end of H1 2024, 625 of which joined during the first six months of the year. This represents an increase of 33% compared to 470 new companies that joined during H1 2023.

As part of the business forum, the chamber delivered an informative presentation on Dubai’s trade and economic landscape that highlighted the competitive advantages the emirate offers for Turkish companies. In addition, an insightful panel discussion featuring experts from prominent economic sectors discussed the opportunities available in the Turkish market for companies from Dubai, together with valuable guidance for businesses and investors.This was followed by a series of bilateral business meetings between representatives of companies from Dubai and Türkiye, which continued during the second day of the mission.

The trade mission delegation featured representatives from 16 private sector companies from Dubai operating across diverse sectors including electronics, food & beverages, pipeline products, information technology, brand protection, technology, airport services, retail, textiles, and energy & mobility solutions.