UAE investment opportunities open to Turkish business community

The United Arab Emirates presents growing investment opportunities for Turkish companies, with Dubai serving as a critical launch point for regional expansion, the head of the Turkish Business Council in Dubai and Northern Emirates said at a networking event, marking the council's 21st anniversary.

The event brought together Turkish businesspeople based in the UAE and was attended by Turkish Ambassador to Abu Dhabi Lutfullah Goktas. The council, a UAE-based non-profit, aims to connect Turkish entrepreneurs with broader commercial networks across the country.

Council President Kanat Kutluk told Anadolu that the Turkish population in the UAE had surged from 10,000 five years ago to over 50,000, underlining the growing business interest. He highlighted that the signing of the Comprehensive Economic Partnership Agreement (CEPA) in 2023 has set the stage for bilateral trade to more than double from $19 billion in 2023 to $40 billion within five years.

"The UAE market is not confined to Dubai," Kutluk said. "There is a market of billions of people with a reach of $35 trillion within a 3.5-hour radius — it is possible to influence this market via Dubai and then move toward regional cooperation."

He pointed to Dubai's D33 economic strategy, which aims to double the emirate's GDP over the next decade, as a key opportunity for Turkish firms.

"There are Turkish firms with revenues in the billions," he said. "If used properly, we can secure a significant share from Dubai's D33 project. Food has been a leading investment category, but serious growth is expected in the defense industry, IT services, and artificial intelligence."

Kutluk advised Turkish companies looking to enter the UAE to prepare for tough market conditions due to intense global competition. "Not every product sells or every business survives here," he said. "The best products and services from around the world compete here."

He added that the UAE remains one of the most accessible countries for foreign investors, with minimal bureaucracy and investor-friendly policies. "Dubai is unmatched if you want to start a business or supply a product or service — the government's protective measures and incentives are exceptional," he said.

"You can access India, China, Africa, the Middle East, and Saudi Arabia within a five-hour flight from Dubai," he noted. "Even in Saudi Arabia, people ask whether businesses have a Dubai office. That's how central Dubai has become to doing business in the region."

Kutluk stressed the need for realistic company valuations as a key factor in securing successful partnerships. "There is often a gap between how Turkish companies evaluate themselves and how local firms assess them. That discrepancy causes deals to fall through," he said. "I advise Turkish firms to work with UAE-based partners and agree on valuations that reflect the real market."

He concluded that Turkish companies have a strong window of opportunity over the next 10 to 20 years and said the business council is ready to provide all necessary support.