427 Kuwaiti companies operate in Turkey; investments exceed $2 billion: Turkish envoy
Turkey’s Ambassador to Kuwait, H.E. Tuğba Sonmez, announced on Monday that 427 Kuwaiti companies are currently operating in Turkey, with total Kuwaiti investments exceeding $2 billion. Additionally, trade between the two countries reached nearly $700 million in 2024.
Speaking at a reception organized by the Turkish Embassy to mark the visit of Burak Dağlıoğlu, Head of the Investment and Finance Office at the Turkish Presidency, Ambassador Sonmez highlighted the mutual importance both countries’ leaderships place on strengthening bilateral relations.
She noted that these ties “gained new momentum following His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah’s visit to Turkey last year.”
The ambassador added during the visit of His Highness the Amir Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah to Ankara several agreements were signed covering bilateral trade, defense industry, and investment, emphasizing that cooperation spans multiple sectors including commerce, defense, tourism, and investment.
She also noted that President Recep Tayyip Erdoğan met with His Highness the Crown Prince Sheikh Sabah Khaled Al-Hamad Al-Sabah on the sidelines of the 80th UN General Assembly.
Over the past two years, the embassy has hosted numerous senior Turkish officials, including Trade Minister Ömer Bolat and Treasury and Finance Minister Mehmet Şimşek, holding meetings and events with the Kuwaiti business community.
Ambassador Sonmez stressed that Turkey and Kuwait are natural partners in all fields, based on shared history, religious and cultural proximity, common values, and vibrant business communities—foundations upon which bilateral relations are built.
She pointed out that current trade and investment figures do not fully reflect the depth of relations, emphasizing the need to connect business sectors in both countries, build new bridges, and enhance dialogue. She described the visit of the Investment and Finance Office head as an opportunity to unlock joint potential, forge new partnerships, encourage bold investments, and shape a future of mutual growth.
Speaking at the reception, Burak Dağlıoğlu said the visit aimed to meet investors, showcase opportunities across various economic sectors, and encourage capital investment, particularly given the existing experience between the Investment Office and numerous Kuwaiti investors in Turkey.
He added that the office supports most Kuwaiti companies with investments in Turkey, visiting their headquarters during his trip to Kuwait to explore further cooperation opportunities. The office, he noted, reports directly to the Turkish Presidency.
Dağlıoğlu explained that the office seeks to attract additional investments in new sectors such as insurance, technology, and financial services, alongside traditional sectors like banking, especially Islamic finance, which have long been part of Turkey’s investment landscape.
He emphasized that encouraging tech entrepreneurs is a key priority and that the office supports young Kuwaitis establishing tech businesses in Turkey, benefiting from the country’s advanced digital infrastructure and assistance in overcoming bureaucratic hurdles for licensing.
During the reception, Dağlıoğlu also presented a visual overview of Turkey’s economic landscape, regional and global economic trends, and the untapped potential for Turkish-Kuwaiti trade, highlighting promising opportunities for Kuwaiti investors.
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