Kuwait Partakes In 15Th Turkisk-Arab Economic Forum

(MENAFN- Kuwait News Agency (KUNA)) ISTANBUL, Oct 17 (KUNA) -- Kuwait took part in the 15th Turkish-Arab Economic Forum on Thursday that featured participation of high-level officials from the two sides.
Kuwait's Finance Minister and Minister of State for Economic and investment Affairs, and Acting Oil Minister Nora Al-Fassam chaired the Kuwaiti delegation at the forum.
The one-day event gathered ministers, experts, representatives, and economists from various institutions and the private sector to discuss key agenda items.
Al-Fassam said removing commercial barriers would enhance cooperation between Turkiye and the Arab world, with a possibility of facilitating Kuwaiti investments in Turkiye.
She pointed to the leading role of countries played in raising economic development.
Turkish Minister of Treasury and Finance Mehmet Simsek said there is possible economic partnership between Turkiye and the Arab world, along with opportunities of integration between the two sides.
There are major challenges in the region, but there are also opportunities, he noted.
There is a state of uncertainty in terms of monetary and financial policies globally, and geopolitical tensions and disputes pose threats to economic system, he stated.
Furthermore, Egypt's Finance Minister Ahmad Kouchouk said relations between Turkiye and Egypt are based on benefiting the two sides.
Turkiye is a gateway to Asia and Europe, and there are also big opportunities to the Gulf and Arab states, he said.
Egypt continues its role as the strategic northern gateway to Africa, he said, noting that ties between Turkiye and Egypt have reached an extremely good level.
Exporters in Egypt have established robust ties with Turkish companies, and four big Turkish firms have signed key projects in Egypt, he said.
Meanwhile, Arab League Secretary-General Ahmad Aboul Gheit stressed the forum's significance as a platform for trade relations between the parties.
He said that this forum strengthens dialogue and provides an opportunity to debate problems, pointing to growing Turkish and Arab economic relations.
He pointed out that Turkiye has substantial know-how that can leverage opportunities arising from the Arab world.
He revealed that Turkiye's exports to the Arab world has totaled USD 46 billion annually, with imports of USD 36 billion.
Aboul Gheit stated that Turkiye and the Arab world could achieve a bilateral trade volume of USD 150 billion, underscoring Turkiye's well-developed infrastructure, including Turkish contractors who are involved in infrastructure projects across Asia and Arab countries.
He stressed the need of signing free trade deals as soon as possible, elaborating that they would help boost investment fields between the two sides.
The one-day forum discussed some key topics, including managing financial policy amid unstable economic conditions, and bolstering Turkish-Arab economic ties and others.
It touched upon new opportunities in the emerging sectors such as green energy, financial technology, logistic services and others. (end)
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