New Year brings with it splendid new opportunitiesJanuary 4, 2016 10:46
Timing is everything: Turkey wants more food trade as the UAE tightens its food import rules
Precious de Leon things Turkey's proposition for more food bilateral trade with the UAE is either the worse idea or best opportunity, as the Emirates turns skittish about food imports.
July 10, 2011 3:10 by Precious de Leon
Fears of e.coli outbreak are forcing Dubai to tighten its rules for food imports. That’s according to a report on The National this Sunday.
Bad timing for Turkey then, which just sent out a mass press release on the same day saying it hopes to increase bilateral food trade with the UAE by about 20 percent. Oops.
In more specific dollar speak, the closer relationship is hoped to bring bilateral food trade between the two countries to $250 million by the year 2015, according to Dr. Murat Yalcintas, President of the executive board at the Istanbul Chamber of Commerce (ICOC).
You can’t blame Turkey for trying. Trade data indicates that the UAE is Turkey’s largest trading partner among the GCC countries, with nearly 42 per cent of share in the total trade between Turkey and GCC.
According to The National, Dubai imported 85 percent of its food last year. That’s about 5.7 million tonnes from 163 countries. (How is all of this sustainable, you may ask. All Kipp can tell you is that IS a headscratcher.)
Total trade volume between Turkey and the UAE during Q1 2011 stood over $1.3 billion—a 50 percent increase from the same period in 2010, according to the ICOC. Of this number, food trade accounts for $32 million.
The article in The National also provided this list from the Dubai Municipality of most imported products and the top food importers, which will most likely be affected by the tightening control over food imports:
Top five food importers to Dubai: India, Pakistan, China, Brazil, US
Five most imported products to Dubai: grains; fruits; vegetables; pulses; meat and poultry