Double-Digit Growth in HVAC-R Trade Between Turkey & UAE
Quality Turkish products and increased competitiveness drive market consolidation
Dubai, 5 December 2017: The UAE imported USD 44.27 million worth of Turkish HVAC&R products in 2016 as a Hub and is expected to grow at 4.5 percent in 2017, TIM TTC Gulf Consulting FZE revealed today.
TIM TTC Gulf Consulting FZE who operates the Turkish Trade Centre for HVAC&R sector was established in July 2016 to represent the Turkish companies in the UAE.
Operating from the Dubai World Trade Centre, the TIM TTC Gulf Consulting FZE plays a pivotal role in facilitating trade between Turkey and the UAE for HVACR 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.
The TTC further revealed that UAE’s HVAC&R (heating, ventilation, air conditioning and refrigeration) imports from Turkey are expected to grow at 4.5 percent in 2017 as compared to 2016 based on the USD 30.75 million exports.
These products include heating and refrigeration systems, cooling towers, air filters, ventilation ducts, insulation material and air conditioners.
The HVAC&R sector shows significant promise of a partnership between 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.
Turkey’s HVAC&R manufacturers have given high priority to research and development alongside transfer of technology from global tie-ups. Almost all Turkish HVAC&R producers adhere to ISO Certificates and various quality standards, research customer preferences during the design phase and have well-established after-sales service networks that have helped grow exports.
Speaking of the growing Turkish HVAC&R imports, Serdar Kumbaraci, TTC UAE Country Manager 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.”
With more than USD 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 2017.
Germany, USA, France, United Kingdom, Italy, Russian Federation and UAE account for 32 percent of the total export of the HVAC sector. It is projected that in 2017, the volume of export to these countries will exceed the export volume in 2015 and 2016, given the total volume of export in the first nine months of the year, which stands at USD 915 million.
About TIM TTC Gulf Consulting FZE - DWTC:
TIM TTC Gulf Consulting FZE has been established on 11th of July 2016 in order to operate Turkish Trade Centers in DWTC. TİM TTC is a subsidiary of TİM A.Ş. – located in Istanbul - which is a joint stock company, within the body of Turkish Exporters Assembly, formed to realize the vision of establishing and representing the 'Turkish' brand all over the world. Its mandate is to establish Turkish Trade Centres all around the world, introduce Turkish exporters and their products, assist them in warehousing and logistics, provide legal and financial services and help them enter new markets.