Turkish Products Exhibited at First Turkish Goods Fair in Kuwait

By Dilek ÜLKER
ITO Vizyon

The largest country fair in Petro-dollar rich Kuwait was held by Istanbul Chamber of Commerce (ICOC).82 Turkish firms qualified as KOBI from textile to cosmetics and from food to furniture sector have presented their goods to customers' liking with direct sale. The exposition held in Kuwait International Fair has received the utmost attention from Kuwaitis.

Istanbul Chamber of Commerce which continues its expansion to Gulf countries in the framework of commercial diplomacy foray it started, has opened the door to trading with Kuwait, the country of opportunities. Turkish and Kuwaiti businessmen have met in the "Kuwait 1st Turkish Goods Fair" held within the framework of "Gulf Expansion" started by ICOC for Turkish businessmen to carry on more trade with Middle Eastern countries and establish cooperation. Kuwaitis have shown great interest in the fair which was open until May 7 in the Kuwait International Fair. 82 firms from textile to cosmetics, from food to furniture qualified as KOBI have participated in the exposition where Turkish firms found the opportunity to present their products to customers’ liking with direct sale. ICOC delegation consisting of ICOC President Dr. Murat Yalç?nta?, Secretary General Dr. Cengiz Ersun and members of the assembly have participated in the opening ceremony of the fair. The exposition was opened jointly by the President Dr. Yalç?nta?, Secretary of Kuwait Industry and Trade Ministry Rasheed S. Y. Al Tabtabai and the president of Kuwait Chamber of Commerce and Industry Ali Mohammed Thunayan Al-Ghanim. After the opening, Yalç?nta?, Tabtabai and Al-Ghanim have visited the stands and examined the Turkish goods. Rasheed S. Y. Al Tabtabai and Ali Mohammed Thunayan Al-Ghanim were impressed by the quality of Turkish goods.

Why Kuwait
ICOC delegation was greeted with great attention from Kuwaitis and the press. Dr. Yalç?nta? has highlighted in his statement to journalists that since Kuwait is one of the countries affected least by increasing commodity and raw material prices, it is a very interesting partner for Turkey and the whole world. Dr. Yalç?nta? drew attention to businessmen from all countries coming to Kuwait and expressed that they are trying to achieve their part of the effort in developing economical ties between Kuwait and Turkey. He stated that large companies have no problem in entering Kuwaiti market however small and medium size businesses have no opportunity to carry on business in Kuwait all alone. He added “Our purpose is to bring small and medium size Turkish and Kuwaiti businesses together.”

Its Economy is Stable
Dr. Yalç?nta? has said that since very important new construction projects are going on in Kuwait, there is a demand for many products such as construction materials, marble, office furniture and packaging machines and various industrial equipment and then added:
“The reason that we preferred Kuwait for this exposition organization is that Kuwaiti investors’ interest in Turkey has increased in recent times and commercial delegation visits between both countries have increased in the last years. Kuwait is the most important country with a stable economy in the region. Kuwait has utilized increasing oil prices in the last period very positively by strengthening its economy and making new investments. There is a boom particularly in infrastructure and construction sectors. In addition, the presence of trust and optimistic environment for Turks in Kuwait is very important for us.

STA Will be an Important Step
The secretary of Kuwait Industry and Trade Ministry Rasheed S. Y. Al Tabtabai has thanked Turkish authorities and businessmen for the fair and said “We want more trade. We know that Turkey produces very good products in international standards. This fair has been very beneficial to us. We want to develop our trade and ties with Turkey.”
Tabtabai has expressed that a faster growth in the trade between Turkey and Kuwait is foreseen in coming years and that they are very glad about it. He highlighted that the talks regarding a free trade agreement between Turkey and Gulf countries has reached the final stage and it will be an important commercial step for the trade between both countries to grow fast. Tabtabai has pointed to the important steps Kuwait has taken in transition to a free market economy and said that they have accomplished very significant reforms and have started a venture for large investments in surrounding countries. Tabtabai has emphasized that they have a very solid infrastructure in areas such as banking and capital market and that national income in Kuwait is rising quickly and privatization still continued.

Turkish Contractors Must Be More Effective
Kuwait Ambassador of Turkey ?akir Fak?l? has stated that Kuwaiti investments have reached 4-5 billion dollars in last 5 years in Turkey where Al-Shaya Group employs one thousand and five hundred people and has nearly 300 hundred stores. Fakili also pointed out that the largest rent-a-car firm in Turkey is owned by Kuwaitis and that Kuwaitis express their trust in Turkish economy in every opportunity and see Turkey as a bridge between EU and the eastern world.

Fakili stated that Kuwait Turkish goods fair is the largest fair ever held in the country and highlighted that if this fair is held every year, exports to all Gulf countries in addition to Kuwait will rise. He said that free trade agreement to be signed with Gulf countries and opening of Iraqi route will enable increase in exports from Turkey to Kuwait and added that he is visited by on average 1-2 Kuwaiti firms in a month and that they are mostly interested in real estate, finance and banking sectors.

Fakili has stated that there are 4 Turkish firms who received preliminary sufficiency in a residence project of 50 thousand units in Kuwait and also a Turkish firm has earned preliminary sufficiency in a hospital project. He added “however I find the presence of Turkish contractors inadequate here. In the next 8 years, 210 billion dollar real estate and construction investments are foreseen here. Turkish firms can take part in it”.

In what areas can cooperation be achieved?

• Undertaking energy, water and agricultural projects
• Joint investment in textile and ready wear sectors.
• Every kind of consulting services in engineering fields.
• Cooperation in food, furniture, air conditioning, refrigerator, oil and petro-chemistry sectors.
• Restaurant chains specific to traditional Turkish cuisine in Kuwait
• Sale of construction materials and subcontracting services.
• Trade, industry, investment, banking and tourism areas.
• Directing Gulf capital to portfolio investments in Istanbul Stock Exchange
• Directing Kuwaitis to buying firms in the framework of privatization.