The UAE imported US$44.27mn worth of Turkish heating, ventilation, air conditioning and refrigeration (HVACR) products in 2016 and the value is expected to grow at 4.5 per cent in 2017, TIM TTC Gulf Consulting FZE has revealed
TIM TTC Gulf Consulting FZE, which operates the Turkish Trade Centre for HVACR 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.
These products include heating and refrigeration systems, cooling towers, air filters, ventilation ducts, insulation material and air conditioners.
According to the company, the HVACR 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.
Speaking of the growing Turkish HVACR imports, Serdar Kumbaraci, TTC UAE country manager, said, “Our TTC participant companies in the HVAC&R sector have established long-term relationships with the UAE companies to support them to utilise 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 US$9bn 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 the UAE account for 32 per cent 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 US$915mn.