Kuwait Demonstrates Commitment to Strengthen Economic Ties at 15th Turkish-Arab Economic Forum in Istanbul

Istanbul: Kuwait participated in the 15th Turkish-Arab Economic Forum, aiming to enhance economic cooperation and discuss potential investment opportunities, particularly in Turkiye. The event, which convened high-level officials from both regions, focused on addressing commercial barriers, fostering partnerships, and exploring new sector opportunities. According to Kuwait News Agency, Kuwait's delegation was led by Nora Al-Fassam, the country's Finance Minister and Minister of State for Economic and Investment Affairs, and Acting Oil Minister. Al-Fassam emphasized the importance of removing trade barriers to facilitate Kuwaiti investments in Turkiye and highlighted the significant role that countries play in boosting economic development. Turkish Minister of Treasury and Finance, Mehmet Simsek, acknowledged the potential for economic partnership between Turkiye and the Arab world. He pointed out the challenges and opportunities present in the region, noting the global uncertainties in monetary and financia l policies and the impact of geopolitical tensions on the economic system. Egypt's Finance Minister, Ahmad Kouchouk, also shared insights on the strengthening relations between Turkiye and Egypt, describing Turkiye as a critical gateway to both Asia and Europe. Kouchouk mentioned the robust ties between Egyptian exporters and Turkish companies, highlighting recent key projects signed with major Turkish firms. Arab League Secretary-General Ahmad Aboul Gheit underscored the forum's role as a vital platform for enhancing trade relations and dialogue between Turkiye and Arab nations. Aboul Gheit revealed impressive trade figures, with Turkiye's exports to the Arab world totaling USD 46 billion annually and imports at USD 36 billion. He advocated for signing free trade agreements promptly to boost investment opportunities and projected a potential increase in bilateral trade volume to USD 150 billion. The forum also delved into topics like managing financial policy amid economic instability, strengthening Turki sh-Arab economic ties, and exploring emerging sectors such as green energy and financial technology.