Turkish Finance Minister Mehmet Simsek on Friday said that "our Kuwaiti brothers should see Turkey as a center of investment".
Simsek met with Kuwaiti Minister of Commerce & Industry Anas al-Khalid al-Salih over a working breakfast held as part of the Turkish-Kuwaiti Business Council in Istanbul.
Simsek later attended the meeting of the Kuwait Joint Economic Council.
Speaking at the meeting, Simsek underlined that they had fruitful talks in the past several days.
We will complete the meeting at the end of Friday, Simsek noted.
"The aim of such meetings is to promote economic relations. Developing such relations would benefit the peoples of both Turkey and Kuwait," Simsek also said.
Turkish Finance Minister Mehmet Simsek on Friday said that Turkey and Kuwait agreed to raise their bilateral trade volume to $1 billion by 2016. Speaking at the signature ceremony of the Turkey-Kuwait 9th Term Joint Memorandum of Understanding, Mehmet Simsek indicated that the target of of a $1 billion trade volume with Kuwait was reachable. “The private sector could realize our goal of increasing bilateral trade volume with Kuwait to $1 billion”, Simsek underlined.
"As two ministers, we will provide the necessary support needed for this purpose. During the meeting, we held briefings for Kuwaiti investors on various Turkish sectors, including banking, petro-chemicals, real estate and privatization," Simsek stated. "We discussed the legal framework between the two countries and went over what needs to be done. We decided to sign six agreements with Kuwait on maritime, cooperation between small and medium scale businesses, cooperation in youths and sports fields, cooperation in education and science, cooperation between free zones and in preservation of environment and natural sources.”
Kuwaiti Minister of Commerce and Industry Anas al-Khalid al-Salih agreed that the meeting they held would promote cooperation between Turkey and Kuwait. The meeting's aim was to boost the bilateral trade volume, al-Salih noted. He also highlighted that Turkey has become a favorite holiday destination of Arab tourists.
Kuwaiti Minister of Commerce and Industry Anas al-Khalid al-Salih on Friday said that they would make procedures easier for Turkish businesspeople in Kuwait. "Aside from the construction sector, we wish to see Turkish investors in all sectors of Kuwait," al-Salih underlined. "We want to see the Turkish private sector in Kuwait. While there may be certain obstacles, we will do everything possible to end those obstacles in Kuwait. Once we accomplish this, companies from Turkey will be able to enter Kuwait," al-Salih stressed.
"We need to create more fairs and meetings in both Turkey and Kuwait. Relations between the private sectors of our two countries must be promoted," al-Salih also said.