Inaugurating a commercial authority program at the Turkish Embassy in Kuwait, the country’s Minister of Trade Omar Polat lauded existing commercial ties between the two countries and said that Kuwait’s investment in Turkey constitutes the backbone of the economic relations between the two countries. He added that his country is seeking to raise the volume of investment from Kuwait to over US$5 billion over the coming period.
The commercial authority program, which aims to enhance economic collaboration between the two countries across multiple sectors, such as industry, tourism, real estate, and finance, was held in the presence of Kuwait’s Minister of Trade and Industry and the Minister of State for Youth Affairs Mohammad Al-Aiban, and over 100 Turkish businessmen.
Speaking to the media following the inauguration, Minister Polat elaborated that his country plans to increase oil purchases from Kuwait and encourage more Kuwait’s purchases from Turkey, including clothing, car spare parts, iron and steel products, and defense projects as well as others. He also noted that there was immense potential for Turkish companies to be involved in Kuwait’s Vision 2035 development plan.
In her address on the occasion, Ambassador of Turkey, H.E. Tuba Nur Sonmez underscored the promising future of trade and investment relations between Turkey and Kuwait. The high trade volume achieved last year demonstrates the potential for growth in various sectors. She emphasized that the partnership between the two countries could set a regional example for economic cooperation and development.