USD 5 bln Kuwait's investments in Turkey - Al-Wazzan

KUWAIT, April 28 (KUNA) -- Kuwait's investments in Turkey, public and private, exceed USD five billion, according to Deputy Chairman of the Kuwait Chamber of Commerce and Industry (KCCI) Abdulwahab Al-Wazzan.
Bilateral trade has also risen five times compared to 2003, Al-Wazzan told a meeting for Kuwaiti and Turkish businessmen at Bayan Palace on Tuesday. He pointed to wide and promising opportunities for promoting economic cooperation in various sectors.
Al-Wazzan said Kuwait's national development plan gives the private sector a leading role, which in turn offers a chance for a partnership with the Turkish counterpart.
The KCCI senior official highlighted the significance of economic legislations in Kuwait, which have enhanced the investment-attractive environment, referring to "strategic cooperation" between Turkey and Kuwait in the latter's new development plan.
The plan is not confined to infrastructure projects but it also includes promoting education and health services, and knowledge, which can help enhance bilateral scientific, technical and technological cooperation, he Al-Wazzan.
Meanwhile, Minister of Finance Anas Khaled Al-Saleh said that trade exchange has been developing, especially over the past years, as both sides are keen to bolster bilateral ties in all fields.
The visit by President Recep Tayyip Erdogan and representatives of the Turkish private sector will help bolster bilateral economic ties, Al-Saleh told KUNA on the sidelines of the businessmen meeting.
He referred to bilateral talks for the private sector in both countries on fostering economic, trade and investment ties for mutual benefit.
The Minister urged the Turkish companies to invest in the development projects of Kuwait's medium-term plan covering transport, construction and infrastructure projects. (pick up previous) mfs.fh.tab.msa