Emirati trade and real estate investments in Turkey
Turkey and the UAE have very good investment and trade relations. The past years have witnessed high-level investment and economic relations between the two countries, Turkey was classified at the time as one of the top ten suppliers in the UAE, and the UAE trade exchange with Turkey increased by 6 times than it was previously, the percentage of UAE exports has increased significantly And trade and investment exchange flourished until the average volume of trade exchange between the two countries reached about 8 billion US dollars, and the UAE ranked first among Arab countries in terms of the value and diversity of investments in Turkey.
- Trade stability between the two countries
Ankara and Abu Dhabi were keen on stabilizing trade relations between them, and recently expanded to cover many aspects and trends during the Corona pandemic period, and this led to an increase in the volume of Turkish exports to the UAE, which rose to about 300 million US dollars compared to the previous months, where the value of exports recorded about 245 million dollars.
The trade exchange between the two countries achieved the highest rate among all other Gulf countries with Turkey, reaching about $8 billion in 2020, despite the Corona pandemic and the difficulties that accompanied this year. The ninth-largest exporter to the Turkish market. In terms of Turkey, it ranks fifteenth in the world for the trading partners of the UAE and ranks sixth as the largest importer of them, and this gives strong indications of the possibility of expanding relations more and more comprehensively.
The nature of the Emirati-Turkish relations
The Emirati desire to achieve a new rapprochement with Turkey appeared in earnest, as the UAE Minister of State for Foreign Affairs, Anwar Gargash, announced that his country wanted normal relations with Turkey, speaking of encouraging signs to achieve this, and Gargash said, during a press conference on January 7, 2021, that The UAE is Turkey's "main number one partner" in the Middle East, noting that the UAE "does not cherish any enmity" with Turkey.
According to Turkish sources, contacts are taking place between Ankara and Abu Dhabi to improve relations, especially that the UAE took a step when it normalized the treatment of granting Turkish citizens entry visas to the UAE, after restricting it in the previous period, and Turkey appointed a new ambassador to the UAE.
The UAE investments in Turkey
It includes all sectors and various small, medium, and big projects and all kinds of industries including food, medical, pharmaceutical, transformational, tourism, real estate, and logistical investments. Where the Emirati investments in Turkey are of great diversity and comprehensiveness, covering most sectors, and the volume of Emirati investment in Turkey amounted to about 4.3 billion US dollars. Their projects significantly increased, and the volume of real estate expansion increased significantly from the expansion of the construction of hotels, resorts, and villas in many of the most famous tourist areas in Turkey.
The future of Turkish-Emirati relations
All indicators indicate that the two countries are heading towards expansion plans and economic and investment relations that may be the strongest, as the relationship between the two countries has witnessed a remarkable improvement after witnessing slight tension in the past few years. This improvement will lead to restoring relations in general for the better. There is no doubt that the trade and investment level has a share The largest, there will be contracts and agreements that include long-term investments between the two countries, where the UAE considers Turkey one of the most important partner countries in trade and economic growth and a great gateway for exports and imports, and the UAE for Turkey is considered a hub for linking between East and West, and this enhances their relationship and future exchange.
In the end, we note that both countries enjoy a great and huge history of exchanges and commercial investment projects and that the return of relations will contribute to the return of distinguished economic activity between the two countries significantly, and many economists suggest that there will be huge plans and projects that will be in the near future between Ankara and Abu Dhabi, It will include all sectors, and the movement of exports and imports between the two countries will return to its previous era.