The opening of the Turkey Trade Center in Dubai was one of the most important joint economic steps between the Republic of Turkey and the United Arab Emirates during the year 2020, and a new shift in the level of joint trade relations between the two countries, and trade exchange..

 

The Turkey Trade Center in Dubai had a media echo in the Arab and Turkish because it contradicts the picture circulating about the dispute between the two countries.

Perhaps it will be a window of fraternity between the two brotherly peoples, and a space to open more channels of communication and cooperation. 

 

Given the importance of this center, we wanted Fanar Realty  to have stopped with the most important features of it, and what you need to know about it, so we advise you to continue reading this article:

 

General information about the Turkey Mall in Dubai

Below is some information about the Turkish Trade Center in Dubai, which was recently opened by Turkish official authorities in a vibrant and touristic area within Dubai.

 

When was the Turkey Mall opened in Dubai?

In the first week of December 2020, the inauguration of the Turkey Trade Center was officially announced in the UAE city of Dubai, in the presence of commercial and official figures from the two countries.

It is noteworthy that the construction of this large and distinguished center took more than two continuous years of implementation and construction, which reflects the great importance of it and the role assigned to it as one of the most important Turkish commercial centers outside the country.

 

When will the mall start its activities in Dubai?

According to what is decided, the Turkey Trade Center will start its commercial activities, God willing, and open showrooms to customers at the beginning of the second month of 2021 (February 2021). 

Who launched the Turkish Trade Center? 

Coordination was made between:

  • Turkish Ministry of Trade

  • Kayseri Industrial City Administration

  • Turkish Exporters Council

In order to launch the Turkey Trade Center project within the city of Dubai, in coordination with the UAE Ministry of Trade and the relevant economic authorities.

 

Where is Turkey Mall located?

The Turkish Trade Center is characterized by being built in a vital and strategic location, near the “Palm Islands” located in the Emirate of Dubai overlooking the Arabian Gulf, and the selection of this site for the construction of this center is one of its most prominent features and indicates an extensive planning study of the commercial center before its launch.

 

Features of Turkey Mall in Dubai

The Turkish Trade Center in Dubai has the following advantages:

  • Vital and touristic geographical location

  • The total area of ​​the mall is about 14,000 square meters

  • In the center is a very large showroom with an area of ​​8000 square meters

  • The hall is also adjacent to a large warehouse, facilities, and other halls of an area of ​​2000 square meters

  • The Turkey Trade Center in Dubai specializes in displaying Turkish products of luxury furniture, furnishings, and residential and office supplies, which are produced by a group of the largest Turkish companies specialized in manufacturing furniture, especially those operating in the industrial city of Kayseri in Turkey.

  • The mall also includes many types of Turkish products, such as marble, curtains, distinctive Turkish carpets, chandeliers, and many luxury products related to furnishings, decorations, and office supplies.

  • The center represents a distinctive advertisement for Turkish products "furniture" and does not stop at this point only. The architectural and engineering design that the center enjoys is one of the distinguishing marks that have won the admiration of those interested in the center, and it reflects Turkish urban art, and may open the door to the work of many Turkish construction companies in Dubai and other vital and tourist cities.

  • The mall opens its doors to customers from ten in the morning until ten in the evening, seven days a week.

 

Advantages of the Turkish Trade Center in Dubai

The opening of the commercial center was not a natural event. Rather, it has its positives that led to its opening and will result from the work of this center within Turkish territory. Among the positives that the Turkey Commercial Center in Dubai holds:

  • An advanced step in trade cooperation between Turkey and the UAE

  • Revitalizing Turkish businesses in the Middle East, and the entry of Turkish products into more Arab markets.

  • Increasing the proportion of Turkish exports to the UAE and many Arab countries

  • The commercial center is expected to be a first step towards the leadership of the Turkish foreign centers and an encouraging step for the opening of similar centers not only in the Middle East, but Turkish commercial activities may reach the West African markets.

  • The region in which Turkey's commercial center was established is in a commercial market open to the Middle East markets, and investments in it amount to about 3 billion US dollars annually, so it was necessary for Turkish products to reach this market and benefit from it.

  • The inclusion of Turkish furniture and furnishings in the list of Turkish exports to the UAE is important and positively affects the value and quality of trade exchange between the two countries, and this matter is expected after the launch of the Turkey Trade Center in the UAE.

  • The UAE benefits from this center by providing luxurious Turkish furniture on Turkish soil more and more easily, as the number of hotels in Dubai has exceeded the threshold of 600 hotels, all of which are of large capacity, and the legal systems in Dubai require hotels to renew the decorations at least once every five years.

  • Most of the luxurious Emirati hotels (five stars) renew furniture, marble, room curtains, and even chandeliers at least once a year, and the Turkish commercial center will be the biggest beneficiary of this.

  • The touristic position of Dubai also makes the center useful for tens of thousands of foreigners per month, as well as for tourism projects, commercial offices and anyone who needs Turkish furniture, or who wants to buy Turkish furniture.

 

  • The center's greatest importance, according to observers of Turkish-Emirati relations, is that it gives a positive effect to mutual commercial investments between the two countries, especially as it is not affected by differences in political visions between them. This is one of the most important signs of economic strength in both countries, and an important catalyst for trade cooperation between them.


 

Of course, there is no surprise in that. Who knows the nature of the Emirati openness to foreign investments and remembers the saying of Sheikh Zayed, the founder of the UAE in this context - when Emirati investors objected to the openness of their country to foreign investments - where he said:

"When you see a foreign investor carrying his project with him to his plane, put it down

 

Trade cooperation between the UAE and Turkey

In the same context, about our talk about the Turkish commercial center in Dubai, we must take a comprehensive view of the commercial cooperation between the two countries. We have dedicated this paragraph to identify the volume of cooperation and trade exchange between them:

 

The volume of trade exchange between Turkey and the UAE

  • The volume of trade exchange ranges, while the Republic of Turkey and the United Arab Emirates reach the threshold of 11 billion dollars annually as an average

  • The value of Turkish exports to the UAE is about 5 billion US dollars annually

  • While Turkey imports from the UAE $ 5 billion annually

  • The UAE is the 12th country in the world on the list of importing countries for Turkish goods and products, and the 9th country in the world is among the largest exporters to Turkey.

 

Turkey's exports to the UAE

Turkey exports to the UAE the following products and commodities:

  • Precious stones

  • Aircraft spare parts

  • Oil derivatives

  • Electronic equipment

  • Iron, steel, and steel and their products

  • Many raw mineral materials

 

Turkey imports from the UAE

Turkey also imports from the UAE the following products:

  • Gold

  • Aluminum

  • Fashion & Jewelry

  • Crude Oil

  • Mineral oils

  • Chemicals

 

Bilateral economic cooperation between the two countries

The economic cooperation between the two countries is represented by high levels of representation. There are several forms of economic coordination between Turkey and the UAE, the most famous of which are:

  • The Turkish-Emirati Joint Economic Committee:

  • Turkish-Emirati Businessmen Council

 

There are also many economic agreements concluded between the Chambers of Commerce and Industry in Abu Dhabi, Dubai and Sharjah, and between the Turkish Foreign Economic Relations Authority, whose early cooperation (more than two decades ago) was to reach this high and distinguished level of cooperation and exchange. Trade between the UAE and Turkey.

 

The Turkey Trade Center in Dubai, a new project that has seen the light, is not the first and will not be the last, but it is undoubtedly one of the most important pillars of economic cooperation between the two countries, and the first fruitful economic efforts of both countries for further cooperation and joint investment to serve their interests and achieve qualitative leaps in the field of foreign trade for both countries. Who are they?

 

See: Istanbul real estate

Sources: 

Turkish Ministry of Foreign Affairs 

Anadolu Agency 

Editing: Fanar Realty ®


 

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