Wednesday, 22 November 2017 02:38 GMT
img

Private sector can enhance Kuwait-Turkey ties

(MENAFN - Arab Times) Turkish President Abdullah Gul said here on Tuesday that his visit to Kuwait is not of a protocol nature, but is a "desirable visit from the heart" because of the depth of relations between the two countries and the positive results that can emerge from this visit in the interest of both peoples. Gul expressed, in a speech at a meeting with members of the Chamber of Commerce and Industry of Kuwait (KCCI), his gratitude to the Government of the State of Kuwait, which considers Turkey an attractive investment hub for all sectors. With regard to the political relations between the two countries, Gul stressed that both countries do not hesitate to provide the needed support for each other on various issues through international and regional fora. He added that the factor of security and internal stability make Kuwait and Turkey distinguished, thus creating the appropriate environment for joint investment, but that does not preclude the two states being in one of the most heated areas of the world where many of the complex issues adversely affect the economic relations of States. Turning to the economic relations between the two countries, Gul said that such ties have been directly and clearly influenced by the political relations, stressing that political relations between Kuwait and Turkey are more than good, which makes economic cooperation to grow in a healthy environment. The Turkish president reiterated that the two countries have readied the ground to enable the private sector and businessmen kick start several economic agreements that can contribute to support and encourage investment and trade between them. He said that Europe and America have for many years attracted the Kuwaiti investments, whether governmental or private, however, the recent global financial crisis has changed many of the concepts and approaches where the conventional wisdom has become "do not put all the eggs in one basket." Gul reviewed the the main advantages enjoyed by his country's economy, pointing in this regard that Turkey ranks 15 among the world's biggest economic powers and the Sixth in Europe with a gross domestic product (GDP) of up to about $750 billion. He added that almost 90 percent of Turkish exports is industrial exports, while the financial sector is one of the strongest sectors on the European and global level. For his part, Chairman of the Chamber of Commerce and Industry of Kuwait Ali Al-Ghanim said the State of Kuwait and Turkey signed during the last two decades 14 different agreements for forging closer economic ties and strengthening cooperation in various fields, while Kuwait had the leadership in the development of Gulf investments in Turkey. Al-Ghanim added that Turkish foreign trade has increased more than four times during the last decade with the outside world, more than five times with the Arab countries and more than eight times with the Gulf countries, but that does not preclude saying that "the value of trade exchange is much lower than the potentials and lower than ambitions." He noted that despite the development of the Turkish-Gulf trade, that matter was not accompanied by a similar development in the Gulf investments in Turkey, stressing that these investments could be "more effective tool to promote the Turkish role in the security and the balance of the region."


Private sector can enhance Kuwait-Turkey ties

  Most popular stories  

Day | Week | Month