Turkey is aiming to increase trade volumes with the Gulf region to equal 30 per cent of its foreign trade, a Turkish diplomat said ahead of a groundbreaking Turkish exhibition to be held in Dubai.

As part of its efforts to promote industrial and commercial ties, Ankara is pursuing a free trade agreement with the GCC countries, in particular the UAE, which provides a gateway to the rest of the Gulf region, the Indian Subcontinent and the East African markets, said Harun Kocak, the country’s commercial attaché to the UAE.
Organised by Expotim International Fair Organisations Inc., a Turkish events management company, ‘Made in Turkey’ is being held at Dubai’s World Trade Centre from 4-6 June.  
Having enjoyed extensive success in the West through a free trade agreement with the EU, Turkey now aims to strengthen its ties in the East with which it shares so many cultural values.
“The unique exhibition will provide the opportunity for Turkish companies to present their high-quality, reasonably priced products to customers in the GCC region and I expect a large amount of contracts to be signed between the two sides,” said Kocak.
“It is an important step to achieving our main goal in the Gulf which is to boost trade volumes with the region until they equal a minimum level of 30 per cent of Turkey’s total foreign trade.”
With exhibitors from the machinery, construction, fashion, decoration and furniture industries taking part, ‘Made in Turkey’ highlights the country’s efforts to increase the diversification of the goods it exports, and all participating sectors have contributed to a significant rise in trade volumes to and from the Middle East.
In a move to win a free trade agreement with the Gulf countries, Turkey has introduced new legislation to ease foreign investment in the country. This legislation comprises the protection of consumer, industrial and intellectual property rights and competition rules and subsidies in addition to Turkey’s already established liberal foreign investment law.    
 In line with the liberalisation of Turkey’s trading regulations, Kocak made a fresh call for UAE companies to invest in the country: “Turkey presents big opportunities for UAE companies to take part in the privatisation of Turkish public facilities across many sectors,” he said.
Progress has been possible thanks to more established policies and strategies which laid solid foundations for future bilateral ties. In 2000, the ‘Neighbouring and Surrounding Countries Strategy’ was launched with the aim of maintaining an increase in exports and strengthening relations with target countries.  In February 2004 the Turkish Business Council was set up in the UAE under the supervision of the Dubai Chamber of Commerce and Industry.
Kocak emphasised that the Turkish Government attached great importance to further develop relations with the UAE. It believes that the ‘Made in Turkey’ exhibition is the next vital step towards establishing a free market economy, building on the success already experienced through increased trading with the Gulf region, and in particular the Emirates.
In 2003 Turkish exports to the UAE were recorded as $703 million, with import figures in the same year being $122 million. As of 2004, exports to the UAE had risen to $1.1 billion and Turkish imports had also increased, reaching $172 million. Together the total trade between the two countries added up to almost $1.3 billion.
Turkish clothing exports to Kuwaiti businesses increased by 30 per cent in 2004, evidence of the country’s rapidly growing ready-to-wear market in the Middle East.
The Turkish fashion industry is flourishing around the world with an average global increase of 25 per cent last year and now it is GCC countries like Kuwait with which Turkey sees a successful and mutually profitable future.
“The Middle East markets have become very important to us and we’re substantially increasing the amount of high-quality, value-added products we export to the GCC,” said Kocak.