UAE imported $44.27 million worth of Turkish heating, ventilation, air-conditioning and refrigeration (HVAC&R) products in 2016, and that figure is expected to further grow at 4.5 per cent in 2017, revealed TIM TTC Gulf Consulting.
TIM TTC Gulf Consulting, which operates the Turkish Trade Centre for the HVAC&R sector, was established in July 2016 to represent the Turkish companies in the UAE. The company is a subsidiary of TIM A S, located in Istanbul, which is a joint stock company, within the body of Turkish Exporters Assembly.
Operating from the Dubai World Trade Centre, the TIM TTC Gulf Consulting plays a pivotal role in facilitating trade between Turkey and the UAE for HVAC&R products.
It works closely with the Turkish exporters by providing them with commercial, legal and logistical support to reach out to the UAE businesses and address their market needs, said a statement from the company.
The TTC further revealed that UAE’s HVAC&R imports from Turkey are expected to grow at 4.5 per cent in this year, compared to 2016 based on the $30.75 million exports.
These products include heating and refrigeration systems, cooling towers, air filters, ventilation ducts, insulation material and air conditioners, it said.
The HVAC&R sector shows significant promise of a partnership between the UAE and Turkish companies as it represents high quality Turkish export products that are performing better in global competitiveness and thereby gaining market share. This was evident at the Big 5 2017 exhibition where Turkey was one of the top exhibiting country representing over 240 companies, it added.
Turkey’s HVAC&R manufacturers have given high priority to research and development alongside transfer of technology from global tie-ups, said a statement.
Almost all Turkish HVAC&R producers adhere to ISO standards and various quality standards, research customer preferences during the design phase and have well-established after-sales service networks that have helped grow exports, it added.
Serdar Kumbaraci, country manager for TTC UAE, said: “Our TTC participant companies in the HVAC&R sector have established long-term relationships with UAE companies to support them to utilize the best technological solution for their needs.”
“It is heartening to note that trade in this sector is growing at a rapid pace and is in the best interests of both countries,” he added.
With more than $9 billion trade volume in 2016, Turkish bilateral trade with the UAE has been growing at a steady pace. In preparation of Dubai Expo 2020, a growing number of Turkish companies have established their UAE operations and more are expected to do so in the coming months.
The number of Turkish companies under TTC that have established UAE operations reached 33 as of November of this year, it stated. – TradeArabia News Service