DMCC sees 11% growth in Turkish companies, boosting business ties with Turkey

Photo : Dubai government media office

DMCC, Dubai's leading international business hub, has reported an 11% increase in the number of Turkish companies joining its business district over the past year. This growth brings the total number of Turkish member companies in DMCC to 643, reflecting the strong trade ties and collaboration between the UAE and Türkiye. The announcement was made during DMCC’s recent "Made For Trade Live" roadshow event in Istanbul, which coincided with a surge in trade and investment between the two nations.

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In the first half of 2024, trade between the UAE and Türkiye grew by 15%, following an impressive 107% increase in 2023. This surge is largely attributed to the landmark Comprehensive Economic Partnership Agreement (CEPA) signed in March 2023, which has positioned Türkiye as the fastest-growing partner among the UAE’s top 10 global trading partners. 

The event introduced Turkish companies to the vast opportunities available through DMCC and Dubai, particularly in industries like precious metals, jewelry, energy, and emerging Web3 technologies. The infrastructure and trade facilitation provided under the CEPA were highlighted as key enablers for Turkish businesses to expand their operations and connect with global markets through Dubai. DMCC’s specialized ecosystems and tailored support in these industries were also a focal point of the discussions.

His Excellency Dr. Hamad Buamim, Chairman of the Board at DMCC, remarked on the significance of the growing UAE-Türkiye trade relationship, which is driving Turkish businesses to join DMCC. He noted the successful opening of DMCC’s first representative office in Istanbul a year ago, emphasizing the continued potential for growth between the two countries under the CEPA. He expressed confidence that the number of Turkish companies in DMCC would continue to rise, reinforcing the trade corridor and expanding business connectivity.

The "Made For Trade Live" event, held in collaboration with Tamimi Consulting, attracted 150 Turkish business leaders and underscored Dubai's appeal as a business-friendly destination. The event also showcased how DMCC facilitates ease of setup and business expansion, offering one of the world’s most interconnected business environments.

DMCC’s global roadshow series plays a vital role in promoting Dubai as a leading hub for foreign direct investment (FDI). DMCC, which currently hosts nearly 25,000 businesses, contributes 15% to Dubai's annual FDI inflows. In 2023, the free zone recorded its second-best year ever, attracting nearly 2,700 new companies, further solidifying its position as a global trade and business center.