Representatives from the Kuwaiti and Turkish financial sectors met in Kuwait on February 1 and 2, 2023, to explore cooperation opportunities between the two countries in the area of finance and investment.
On the sidelines of this meeting, a business lunch was held on the second of February, attended by the General Manager of VakıfBank, Abdi Serdar Ostunsaleh, the General Manager of Ziraat Bank, Alpaslan Chakar, the General Manager of HalkBank, Osman Arslan, and senior officials. Executives from the most prominent Turkish state banks and representatives of the Federation of Kuwait Banks and leading financial institutions in the country, reports Al-Qabas daily.
In her opening speech, Turkey’s ambassador to Kuwait, Toby Nur Sonmez, said there are promising and fruitful future opportunities between Turkey and Kuwait in various fields, especially trade and investment. In the year 2022, trade exchange between the two countries reached a record high of $956 million. This is in addition to the fact that Kuwait’s investments in Turkey, amounting to two billion dollars, are of great importance and appreciation, with attempts and continuous efforts to enhance mutual investment between the two parties.
She went on to say The financial system in Turkey has undergone a remarkable transformation over the past twenty years, especially in the banking sector, which is at the heart of this system. Today, the Turkish financial sector is respected worldwide, due to its strength, reliability and stability.
The discussion highlighted the importance of enhancing cooperation and investment between Turkey and Kuwait, especially in the financial sector. Senior officials and leaders in the banking world in Kuwait and Turkey talked about procedures and capabilities to enhance existing investment opportunities, especially in the field of financing between the two countries. It was confirmed that the developing investment environment is the motivation and catalyst for establishing more partnerships and expanding commercial transactions between Kuwait and Turkey.
One of the most important conclusions of this meeting was the recognition of the importance of the financial sector in encouraging investment in the real economy, enhancing savings, and reducing risks in developing economies. All attendees, including representatives of the financial sector in Turkey and Kuwait, stressed the importance of such meetings to discuss more potential investments, and confirmed their commitment to achieving promising future cooperation potentials between Kuwait and Turkey.
The visiting Turkish delegation also toured the construction site of the new Kuwait International Airport project (Terminal 2), one of the most prominent projects implemented by Limak Company in Kuwait, in order to get acquainted with the iconic project closely and follow the latest developments in the project, which construction work is still accelerating to complete.