Kuwait and Turkey sign bilateral cooperations

Joint Committee for Economic, Industrial and Technical Cooperation

KUWAIT CITY, Nov 5: In a joint collaboration organized by Founder and CEO Abdulmohsen Khaled Al Babtain of AB Capital and Ahmet Arslan of Arslan Group, welcomed the Deputy Prime Minister of the Republic of Turkey Mehmet Simsek to Kuwait and played host to the signing ceremony of the 10th meeting of the Joint Committee for Economic, Industrial, and Technical Cooperation that took place on Oct 31, 2017.

The Deputy Prime Minister Simsek and HE Khaled Nasser Abdullah Al-Roudan the Minister of Commerce and Industry and Minister of State for Youth Affairs of Kuwait co-chaired the 10th meeting of the Joint Committee for Economic, Industrial, and Technical Cooperation during a press conference, which was held in attendance of senior officials and of various departments and agencies of both countries, including Turkey’s Ambassador to Kuwait. Salih Murat Tamer, President of Limak Holding Nihat Özdemir, Abdullah Hamad Al-Jouan the Chairman of the Board & President of the National Fund for Small & Medium Enterprise Development of Kuwait, and Member of Member of Parliament Rakan Al Nusef.

During the signing ceremony, the boost of bilateral cooperations in economic, commercial, and industrial

Officials pose for a group photo at the event.

fields were discussed as well as Kuwaiti-Turkish mutual investments. The meeting also addressed the strengthening of relationships between the two countries and paving the way for direct investments, small business and facilitating tax and customs exemptions.

“Today, the volume of trade between Kuwaiti-Turkish investments has nearly reached $ 1.287 billion in 2016, said Al Roudan. “And, we are looking to expand this figure,” he added.

Topics of discussion during the meeting also included Kuwaiti’s keen interest to enhance its joint action with Ankara in the commercial, economical, political, and cultural sectors, in which to solidify the relationship between the two countries that has made a significant impact on Kuwait’s stability.

Ranked number 13 of the biggest economies in the world, the Turkish Deputy Prime Minister stressed that within this framework of bilateral ties the two countries have reached excellent outcomes.

“Kuwait enjoys a distinct geographical location, balanced foreign policy, solid infrastructure, lowcost of land, open communication channels with major world markets, making it an influential center for attracting foreign investments to the region and the world,” concluded Simsek.