Trade Turkey’s exports to UAE and Saudi Arabia rise 78% By Pramod Kumar January 12, 2024, 4:16 AM Handout via Reuters Turkey's President Erdoğan on a recent visit to the UAE, during which the UAE government committed to investments totalling $51bn over three years Turkey’s exports to the United Arab Emirates (UAE) and Saudi Arabia reached $11.2 billion (336 billion lira) in 2023, an increase of 78 percent from $6.3 billion in 2022, according to a local media report. Exports to the UAE increased by 63.4 percent year on year to $8.58 billion last year, state-owned Anadolu Agency said, based on data available from the Trade Ministry and Turkish Exporters Assembly (TIM). Exports to Saudi Arabia surged 150.3 percent annually to reach $2.6 billion. Turkey ready to explore rare earth mining partnerships Turkey’s exports hit all-time high of $256bn in 2023 Turkey sets bold targets for trade with the Gulf The jewellery sector topped the list of exports to the UAE, while products such as carpets, grain, pulses and chemicals were among the goods shipped to Saudi Arabia. Following his election as president in July 2023, Recep Tayyip Erdoğan visited Saudi Arabia, the UAE and Qatar as part of his GCC tour. During these visits, 18 agreements were signed in several sectors, and a $50.7 billion pact was struck with the UAE. Turkish transport and infrastructure minister Abdulkadir Uraloglu last week said that the UAE and Qatar are considering joining the mega Development Road project, which will link southern Iraq to Turkey. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
