Dubai Gets Its Way As Business Trumps Regional Strife - Bloomberg
Fatma Emrem’s phone has been ringing non-stop since the United Arab Emirates and Turkey repaired ties. A partner at Tamim Consulting, Emrem advises mostly Turkish companies setting up in the UAE commercial capital, Dubai.
“Their main question is how confident should we be that good relations will continue,” she said. “They’re encouraged by recent reforms and lower company setup costs but they want to be sure politics won’t disrupt their business in the future.”
It’s been a rapid turnaround since the UAE unveiled its foreign policy reset in September, vowing to step back from political conflicts and refocus on the economy — targeting $150 billion in investments through deeper links with fast-growing economies, including Turkey’s.
The shift is part of a broader realignment that’s seen erstwhile Middle East rivals overcome sometimes violent differences as the U.S. disengages from the region. After a decade of interventionism that cost billions in lost opportunities, it’s also the clearest sign yet that Dubai’s business-focused model has won out.
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