Kuwait, Turkey discuss boosting investment, trade
Minister of Commerce and Industry Yousif Al-Ali met with Turkish Minister of Development Lutfi Elvan to discuss boosting trade and commerce. The meeting took place on the sidelines of the 7th Bosphorus Summit, which kicked off on Tuesday and concludes today in Istanbul. The two sides also discussed investment opportunities and sharing experience in the field.
Ali had stated Tuesday that Kuwait placed significance on participating in the summit “to discuss ways of cooperation with friendly countries,” adding that this participation comes as part of its efforts to take part in major international economic summits.
Ali pointed out that the Arab presence in the summit was effective, with Saudi Arabia taking part as a guest of honor. The Saudi delegation to the three-day event was led by Dr Majed AlQasabi, Minister of Commerce and Investment, who addressed the gathering by voicing his country’s plan to have an advanced economic rank by the year 2030 despite the world economic recess, citing the key economic reforms projected by the Saudi economy over the coming few years. Qasabi also shed light on the Kingdom’s plan to launch a number of non-oil economic reforms, including promising economic sectors and government services, thanking organizers of the event for choosing the Kingdom as guest of honor. The economic summit is scheduled to discuss, among other issues, Saudi Arabia’s vision 2030 and Turkey’s vision 2023.
Turkish President Recep Tayyip Erdogan had stated in the opening of the summit that his country is facing exceptional circumstances that need to be met with exceptional support from partners and international financial institutions. He drew the attention that his government has launched a package of economic and financial reforms to attract investment.
The summit is held under the theme ‘An International Goal ... An International Future’ in the participation of official delegates from 70 countries, including heads of state, prime ministers, senior officials and businesspeople.
On its stalled EU membership request, Erdogan said Turkey has been waiting for an answer from the EU for over 50 years, and criticized last week’s non-binding vote by the European Parliament urging a freeze to Turkey’s EU accession talks, calling it “harassment.”
“We have not closed the EU subject yet. But the picture we have faced does not allow us to fall for positive expectations on this subject. There are always many alternatives before Turkey. We would continue our way by considering one of these options,” said Erdogan. —KUNA
ISTANBUL: Minister of Commerce and Industry Yousif Al-Ali (left) meets with Turkish Minister of Development Lutfi Elvan. —KUNA