Turkey has set an ambitious plan to increase its food trade with the UAE to USD$250 million by 2015, up 20% from $103 million last year, according to TradeArabia News Service.
The report quoted Dr Murat Yalcintas, president of the executive board of Istanbul Chamber of Commerce (ICOC), saying total bilateral trade between Turkey and the UAE in the first quarter surged 50% to over $1.3 billion compared to last year.
The trade data indicated that food exports between the two countries during this period was $32 million, according to Dr Murat. Determined to expand Turkey’s food exports, ICOC has doubled the size of the Turkish national pavilion at Sial Middle East, a leading event for professionals involved in buying and selling of food products, services and equipment, to be held in Abu Dhabi from November 21 to 23. The event brings together more than 40 exhibitors to develop new ways of co-operation with the UAE.
Total Turkish trade with Gulf Cooperation Countries stood at over $10 billion. The first quarter saw over $3 billion worth of foreign trade between Turkey and GCC countries.
Dr Murat pointed out that the UAE was Turkey’s largest trading partner among the GCC countries, with nearly 42% of share in the total Gulf trade. “Turkish trade with UAE was $4 billion in 2010,” he added.
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