Significant Decrease in Mutual Trade with Israel
The Turkey-Kuwait Trade Delegation and bilateral business meetings organized by the Turkish Exporters Assembly (TİM) and Istanbul Textile and Apparel Exporters’ Associations (ITKİB) under the coordination of the Ministry of Commerce were successfully held in Kuwait, with the participation of Minister of Trade Ömer Bolat.
During a press conference held as part of the visit, Minister Bolat emphasized the importance of the trade relations between Turkey and Kuwait. He mentioned that the purpose of the visit was to express their desire to strengthen economic, commercial, and investment relations between the two countries.
Bolat also highlighted the excellent relationship between Turkey and Kuwait, touching on the historical, cultural, political, and economic ties that have been established over the years. He emphasized that there is great potential for both countries to further progress in the economy.
The Minister discussed the current investments between Turkey and Kuwait, particularly in the fields of energy and defense. He mentioned that there are ongoing joint projects and investment partnerships in various sectors, and pointed out the successful collaborations in infrastructure and superstructure projects.
Bolat also shed light on the efforts to deepen relations with Islamic countries and to increase trade with countries around the world. He highlighted the significant growth in foreign investment in Turkey and the booming tourism industry, expressing optimism about the future of economic relations with Kuwait.
In response to a question about Turkey’s trade relations with Israel and Kuwait, Minister Bolat shared that bilateral trade with Israel had decreased by more than 50 percent compared to the previous year. However, he emphasized the importance of increasing trade with Kuwait in the coming years and outlined the potential for mutual benefit in areas such as oil purchases and product trade.
Overall, Minister Bolat’s visit and the successful trade delegation have paved the way for further economic cooperation between Turkey and Kuwait, indicating a promising future for trade and investment relations.
