Kuwait pays great attention to the private sector… and we have improved business laws and regulations to make them more transparent and easy
Omer Polat: 427 Kuwaiti companies invest two billion dollars in Turkey… and we are implementing 50 projects in Kuwait worth 9 billion
Tube Sönmez: Turkey and Kuwait They enjoy exceptional political relations… characterized by friendship, strong partnership, and shared values.

Ali Ibrahim

. The Minister of Trade and Industry and Minister of State for Youth Affairs, Muhammad Al-Aiban, said that the volume of trade exchange between Kuwait and Turkey amounted to about 1.06 billion dollars during 2022, an increase estimated at 32.9% over the year 2021. Al-Aiban added

. “We realize that there are many investment opportunities available between the two countries, which need to strengthen joint efforts to achieve them, and we are here to exchange ideas, experiences and expertise, and to learn about more investment opportunities.”

Al-Aiban stressed in his speech during the opening of the trade body’s activities that were held in Kuwait yesterday in the presence of the Turkish Minister of Trade, Dr. Omar Polat, and the Turkish Ambassador to Kuwait, Topa Sonmez, that the effectiveness of the trade delegation plays a major role in developing and developing bilateral relations between Kuwait and Turkey, especially economic and trade relations. And investment, indicating that it is an ideal platform for strengthening trade relations and strengthening the frameworks of friendship between the two countries, as the Kuwaiti-Turkish relations are well-established and deep, and today they are witnessing a new positive transformation in that relationship, which has resulted in an increasing and fruitful increase in economic, trade and investment ties between the two countries.

He added: “During the event, we will review trade opportunities between Kuwait and Turkey, and review the latest developments in this regard. I am confident that this event will witness fruitful and effective discussions, during which cooperation and partnership between the private and public sectors in the two countries will be strengthened, and I look forward to seeing positive results that will benefit Kuwait.” Turkey and its people.

Al-Aiban pointed out that Kuwait has taken many steps to improve the business environment in the country, including simplifying the procedures for establishing companies and reducing the time and effort required to obtain the necessary licenses and permits for business, and everything has become through digital portals for commercial licenses, in addition to improving the laws and regulations related to business and simplifying them to make them More transparent and easier to understand and apply.

This comes in addition to providing financial support to small and medium enterprises to encourage entrepreneurship and provide job opportunities through the National Development Fund to support small and medium enterprises, expand economic openness and enhance trade relations with other countries to enhance trade exchange, provide investment opportunities and exchange the expertise required to improve the quality of the business environment, indicating These and other steps contributed significantly to improving the business environment in Kuwait and making it more attractive for local and foreign investments.

He stressed that Kuwait pays great attention to the private sector as it is one of the main pillars that works to stimulate the economic growth process, and this is due to the future vision of Kuwait to transform it into a financial and commercial center in the region that attracts foreign investments by creating a suitable investment climate and benefiting from commercial and economic laws and legislation, and opening the way The foreign investor has the opportunity to invest in the State of Kuwait and benefit from the advantages offered by the Direct Investment Promotion Authority to foreign investors. Al-Aiban said: “Today it is our responsibility to address many challenges, such as global political stability, food security, the challenges of climate change, and the new commitments due in sustainable green development, which have become one of the biggest challenges, which requires us to redouble our efforts and commitments, as the challenges facing global trade include a series of disruptions. Supplies, restrictions that may be imposed on transport, bans on exports or imports, and shortages of goods require us to devise means, plans and projects that guarantee success during crises and enhance sufficient flexibility for the economy and international trade to overcome these obstacles easily and safely.”

Large investments

: For his part, Turkish Trade Minister Dr. Omar Polat said that there are 427 Kuwaiti companies investing about $2 billion in Turkey, expressing his hope to increase the volume of investments, as there are many opportunities in many sectors such as industry, tourism, real estate and finance, indicating that Turkish companies in the contracting field are implementing about 50 projects in Kuwait with a total value of $9 billion.

From a commercial perspective, he said that we must work to remove technical barriers, which is one of the topics that will be raised during our meetings, along with the details of free trade with the Gulf states, as these works will be accomplished on the principle of “win, win,” expressing his hope to support Kuwait in concluding an agreement with the Gulf Cooperation Council countries. .

He stated that the volume of trade between the two countries in 2022 reached about one billion dollars and that the volume of Turkish exports to Kuwait amounted to more than 600 million dollars, noting the other agreements between Kuwait and Turkey, as there is an agreement through which Kuwait buys 18 Turkish armed aircraft.

He pointed out that his visit to Kuwait will include a visit to the new Kuwait T2 passenger airport building, which is being completed by a Turkish company to see what has been implemented, noting that Kuwait is a distinguished country for Turkey, as the President of the Turkish Republic visited Kuwait in 2017 and said that it is a door that opens for Turkey to the Gulf, and Turkey is a door that opens for Turkey. Kuwait opens to Central Asia and Europe. Polat spoke about the Kuwaiti position with Turkey in times of crises, as it is always quick to stand by our side and provide relief materials and aid, and pointed out that the Kuwaiti people are benevolent, and our friendship with Kuwait is a strong friendship.

Exceptional relations

For her part, the Turkish Ambassador to the country, Tube Sönmez, said: “Turkey and Kuwait enjoy exceptional political relations characterized by friendship, strong partnership, shared values, and a common perspective on a variety of issues. We firmly believe that trade and investment relations between our two countries will be the main element of our partnership in the future”.

She added: “In fact, our trade volume reached an all-time record last year, which indicates that there is already a steady upward trend in trade transactions of all kinds between Turkey and Kuwait, but it is still below our expectations, and certainly does not match our ambitions, and we need more.” We will gain more momentum and stronger momentum in our pursuit of mutual prosperity and cooperation.”

She stressed that Turkey and Kuwait possess unique strengths and resources, and when combined, they will be able to achieve exceptional results, and once our economic partnership is fully achieved, it will become a model in the region that others will seek to follow. She continued, saying: “Turkey recently announced the ‘Vision for the Century of Turkey’, which aims to push the country towards a future characterized by progress, development and global participation. Let us begin this journey with a new perspective on economic management that focuses on monetary stability, confidence and financial incentives.”

Sonmez concluded her speech, saying: “I am pleased to note that there is a congruence between the visions of Turkey and Kuwait, and I am confident that the bonds forged here will pave the way for a prosperous future for both Turkish and Kuwaiti companies, so let us move forward strongly, knowing that our collective endeavors will lead to a better society.” Stronger, more connected businesses.”

For his part, Chairman of the Turkish Exporters Council, Mustafa Gultepe, said that the Exporters Council has more than 110,000 members from 27 sectors and 61 export councils, and we organize many trade events in different countries.

He added that today’s event in Kuwait targets commercial relations according to the “win-win” principle, as we have many sectors such as medicine, agriculture, food, clothing, and animal husbandry that came to showcase their services and capabilities to businessmen and business owners in Kuwait.

He concluded by saying: “We would like to share our capabilities and experiences to carry out this exchange, and we pray to God that the goodwill and exchange of experiences will be sustainable and continuous.”

$5 billion is the volume of targeted trade exchange between Kuwait and Turkey during the next 5 years.

Omar Polat: Turkey will increase its purchases of Kuwaiti oil.

The Turkish Minister of Trade, Dr. Omar Polat, said that his country aims to raise the level of trade exchange with Kuwait to about $5 billion over the years. The next 5, from about one billion dollars during the year 2022, indicating that Turkey will increase the volume of its purchases of Kuwaiti oil.

Polat stressed that the Turkish-Kuwaiti relations historically, politically and socially are very good, and that the foreign policies of Kuwait and Turkey have not witnessed any differences, indicating that Turkey wants to integrate with the whole world through more trade, greater investments, and attracting a higher number of tourists.

Polat indicated, in response to journalists’ questions during a press conference held yesterday, that the volume of trade exchange between Turkey and Israel has decreased by 50% since the start of the Gaza events on October 7, indicating at the same time that the volume of trade exchange between Turkey and Israel has reached 6.5 billion. dollars in 2022.

He stressed that Turkey is working to protect its trade and economic status in cooperation with other countries by developing relations, indicating Turkish interest in relations with Arab and Islamic countries.

He talked about direct foreign investments into Turkey, indicating that there are about 85 thousand foreign companies currently operating in Turkey, and that about 21 years ago the volume of foreign direct investment in his country was 15 billion dollars, but nowadays this number flows every year as the volume of investment has reached Foreigners attracted about $285 billion, including about $50 billion from Arab and Islamic countries.

There is no racism in Turkey.

Polat condemned the exploitation of individual incidents to promote that Turkey has racism. He said: “Tourists are our guests and brothers. We look at them as if they are part of our family and we compete to host them in the best way. Our country is the same and the Turkish person is the same.” He reviewed 3 Arab citizens who have lived in Turkey for decades and have their own companies and activities there. They explained that they have lived in Turkey for decades in which they have achieved successes that have strengthened their belonging to Turkish society, and have not experienced the racism that is being promoted.

Collective condemnation of the war on Gaza

Minister Dr. Omar Polat expressed his condemnation and denunciation of the Israeli aggression against Gaza, indicating that there are massacres being committed that we have not seen in the world, pointing out at the same time that we in the Islamic world want to prevent bloodshed, a ceasefire and a two-state solution.

In turn, Ambassador Tubi Sonmez expressed deep sadness over the humanitarian catastrophe in Gaza, as the enormous suffering that our brothers and sisters are experiencing is unbearable, stressing that the horrific Israeli aggression, which has reached the point of a war crime, must stop.

In turn, Mustafa Gultepe said: We meet today, but our minds and hearts are with our martyrs in Gaza. We strongly condemn these Israeli raids in Gaza.