Turkish exporters and Kuwaiti companies held more than 350 bilateral business meetings in the Kuwait Trade Delegation program organized by the Türkiye Exporters Assembly (TİM) and Istanbul Textile and Apparel Exporters' Associations (İTKİB) under the coordination of the Ministry of Trade.
Kuwait General Qualified Trade Delegation was held in Kuwait City on November 7 under the coordination of the Turkish Ministry of Trade and the organization of Türkiye Exporters Assembly (TİM) and Istanbul Textile and Apparel Exporters' Associations General Secretariat (İTHKİB).
Organized with the aim of developing mutual trade relations with Kuwait in all sectors and fields, the delegation was attended by 45 Turkish exporter company representatives from 38 companies operating in textile and raw materials, ready-to-wear clothing and apparel, chemicals, carpets, electrical electronics and furniture sectors.
The opening ceremony of the program, which was attended by Minister of Trade Prof. Dr. Ömer Bolat, who came to Kuwait for official visits, was held with the participation of Kuwaiti Minister of Industry and Trade Mohammed Othman Alaiban, Turkish Ambassador to Kuwait Tuba Nur Sönmez and TİM Chairman Mustafa Gültepe.
Bilateral trade reached $680 million in 10 months
Speaking at the opening ceremony, Minister Bolat stated that the mutual trade volume between the two countries is around 1 billion dollars as of 2022.
Stating that Türkiye exported $673 million dollars to Kuwait in bilateral trade, Minister Bolat continued as follows:
“Although bilateral trade is slightly lower this year due to the recession in the world economy, we believe that this is temporary. As of the first 10 months of this year, Türkiye's exports are $575 million and bilateral trade is at the level of $680 million. We will increase this rapidly through mutual meetings and fairs. Kuwait has made an agreement to buy 18 UCAVs from Türkiye next year. Kuwait's legendary airport project is being built by a Turkish construction company. 427 Kuwaiti companies are investing in our country. Their investments are close to 2 billion dollars. I wish that these investments will continue to increase. Our contractors have realized about 50 big projects worth more than $9 billion. They presented them to the benefit of Kuwait. We will discuss many issues in bilateral meetings in terms of trade and removal of technical barriers between Türkiye and Kuwait. There are some ongoing contacts with the Gulf Cooperation Council on the Free Trade Agreement, and I would like to express that we expect Kuwait's support at this point.”
Kuwaiti Minister of Industry and Trade Mohammed Osman al-Aybat: Relations between Türkiye and Kuwait have made great progress
In his speech, Kuwaiti Minister of Industry and Trade Muhammed Osman al-Aybat said that the relations between Türkiye and Kuwait have made great progress in recent years.
Stating that there are great opportunities in investment areas and that this should be utilized, Aybat said:
“We attach great importance to Kuwait's private sector. As you know, Kuwait is a trade center in this region. I would like you to benefit from the incentives given to foreigners here. Political stability continues with great turmoil in the world. Crises are occurring and this situation is becoming more difficult. It is important to flexibilize the economy and maintain the economy in a safe way.”
“We are ready for any dialogue to deepen trade relations with Kuwait”
Mustafa Gültepe, Chairman of TIM, stated that the Türkiye-Kuwait Trade Delegation consisted of 37 companies from different sectors and a total of 45 participants, and emphasized that Türkiye and Kuwait are two important countries that have weight in this geography and are listened to.
Stating that there are historical, cultural and human ties between the two countries, Gültepe said, "The relations between our countries are getting stronger and deeper every year. Today's program is of great importance for the development of our commercial relations."
Gültepe stated that they are open to all kinds of dialogues to deepen commercial relations with Kuwait and noted the following:
“About 4 thousand companies export to Kuwait. We exported $480 million to Kuwait in 10 months this year. The sectors we export the most are ready-to-wear clothing with $87 million, aquaculture and animal products with $76 million, and chemicals with $55 million. We also have a serious export potential in the pharmaceutical and chemical, agriculture and animal husbandry, and iron and steel sectors. Today, we are here with a wide range of companies from textiles to food, from IT to carpets, from metal to furniture. We attach great importance to Türkiye's development of mutual trade with the Gulf countries for the future of the region.”
Stating that they want to share the abundance and abundance brought by mutual trade with the region, Gültepe added that every opportunity that will increase the welfare of countries and improve trade relations should be utilized.
Over 350 bilateral business meetings
After the opening speeches, the program continued with bilateral business meetings. Participating companies held over 350 bilateral business meetings with 180 Kuwaiti buyers.