UAE- Shurooq seeks to strengthen cooperation with Turkish businessmen

SHARJAH 10th May 2016 (WAM) -- Sharjah Investment and Development Authority Shurooq in association with the Turkish Business Council in the UAE has organised a business meeting at Sharjah Chamber of Commerce and Industry SCCI to discuss ways to enhance cooperation between Sharjah and Turkey and improve economic relations between both sides.

The event was attended by Marwan bin Jassim Al Sarkal CEO of Shurooq Khalid bin Butti Al Hajri Director-General of SCCI Erdem Ozan Turkish Consul-General in Dubai and Hakan Bahceci CEO and President of the Turkish Business Council along with more than 40 businessmen and representatives of Turkish companies operating in the UAE.

Shurooq's meeting at SCCI aimed to bring Turkish investors up to date with Sharjah's unique investment environment by shedding light on the opportunities provided by various economic sectors especially those which are of particular interest to Turkish companies such as clothing food the environment and health.

The Turkish Consul-General said "We see the government of Sharjah as one of Turkey's most strategic business partners which has created and facilitated multiple investment opportunities and business growth between the two nations. This relationship has contributed to 50% growth in trade investments between Turkey and the UAE. Both nations share one of the healthiest and most promising business and trade relationship where Turkey's total exports to the UAE are valued at US$4.6 billion and the UAE's total exports to Turkey are valued at US$2.3 billion. The total bilateral investments between UAE and Turkey are currently valued at US$12 billion. In 2016 we forecast these figures to grow progressively at an optimistic pace highlighting Turkey's willingness to strengthen its relationship with the UAE and other Arab countries across the Middle East."

The CEO of Shurooq said "Emirati-Turkish relations are considered a model of excellent international relations at all levels. The UAE plays host to 400 Turkish companies and more than 10000 Turkish citizens who live and work in the UAE. In 2010 the partnership between the two countries reached new heights when they agreed to strengthen trade relations and economic ties through implementing a number of joint projects along with promoting means of cooperation" he said.

Al Sarkal added "Trade exchange between Sharjah and Turkey reached AED716 million in 2014 and nearly 100 Turkish companies were registered up until the end of 2015 in Sharjah. These figures highlight the importance of our partnership with Turkey and we look forward to seeing a comprehensive expansion in relations as a result of Sharjah's rapid economic growth in the past few years. Sharjah's economy has become one of the most powerful and attractive economies in the region and one of the most rewarding environments for international investors."

The SCCI Director-General said "As representatives of Sharjah's vibrant private sector Sharjah Chamber of Commerce and Industry is committed to providing all necessary facilitates to support parties seeking to set up a business in the emirate or who wish to expand upon their already established interests. This important Turkey-Sharjah Business Conference organised by Shurooq will enrich economic relations between Sharjah the wider UAE and Turkey. It is likely to build upon the established strong relationship between the UAE and Turkey that over the past 10 years has seen bilateral trade between the two entities growing to reach more than US$15 billion (AED55 billion). It will also help to further add to the array of Turkish enterprises based in Sharjah the number of which has exponentially increased from 21 in 2009 to more than 100 by the end of 2015."

The CEO and President of the Turkish Business Council said "Turkey and Sharjah share many common historic religious and cultural values which are widespread and known all over the world. The objective of our participation and involvement in this event is to pursue unique and strategic investments which Sharjah entities can explore in Turkey and vice versa. There are multiple investment prospects in Sharjah which we see significant importance to Turkish business owners and SMEs. Some of these prospects include agriculture renewable energy building material military technologies and manufacturing."

The panel discussion was also attended by Mohamed Juma Al Musharrkh Deputy Director of Sharjah FDI at Shurooq Dr. Abdul Aziz Al Muhairi Director-General of the Sharjah Health Authority Idris Demirhan Regional Director of the Istanbul Finance Centre Dr. Necdet Kerem Founder of Turkish Sarilar Group Abdul Aziz Dawood Senior Sales Executive of the Hamriya Free Zone and Selahattin Urfali Managing Director of GTT Group.