Kuwait-Turkey Economic Ties Target $5 Billion Trade

Background

A high-level Turkish business delegation recently concluded a visit to Kuwait, signaling a renewed push to significantly expand economic cooperation and investment between the two nations. The Independent Industrialists' and Businessmen's Association (MUSIAD) led the delegation, engaging with the Kuwait Chamber of Commerce and Industry (KCCI) to forge new partnerships.

Market Context

Turkish Ambassador Tuba Nur Sönmez underscored Turkey's commitment to strengthening trade relations. She highlighted the ambition to elevate bilateral ties to a strategic partnership, targeting an impressive $5 billion in annual trade volume. This goal builds on recent diplomatic exchanges and a foundation of shared values.

Local Relevance

Current trade figures show promising growth, reaching approximately $1.08 billion in 2025. This marks the first increase since the global pandemic, reflecting a positive trajectory. Kuwaiti investment in Turkey stands at around $2 billion, with 427 Kuwaiti companies actively operating across various Turkish markets.

Outlook

This drive for deeper economic integration aligns with broader GCC strategies for diversification and global investment. Turkey presents a dynamic market for Kuwaiti capital, offering opportunities beyond traditional sectors. The visit explored potential collaborations in energy, food industries, furniture, chemicals, and tourism, areas critical for both economies.

MUSIAD, a prominent business association with a vast global network, aims to facilitate these connections. Its board member, Selim Sar, emphasized the delegation's intent to sign memoranda of understanding and foster trade exchanges with local Kuwaiti partners. The association's focus on supporting small and medium-sized enterprises (SMEs) also presents avenues for joint growth.

Emad Al-Zaid, Assistant Director General of the KCCI, acknowledged the robust existing partnerships between Kuwaiti and Turkish firms. He stressed the importance of transitioning from dialogue to concrete, practical steps. This includes establishing joint ventures and local partnerships founded on transparency and mutual interests, crucial for sustained economic development.

The visit underscores a clear policy direction to enhance bilateral finance and investment flows. As both nations seek to bolster their economies and diversify revenue streams, the commitment to a strategic partnership promises a future of increased trade, shared prosperity, and deeper market integration for Kuwait and the wider GCC region.