Turkey and Kuwait Economic Cooperation: 4 Important Agreements

Historic Agreements Between Turkey and Kuwait

President Recep Tayyip Erdoğan and the Emir of Kuwait Sheikh Meshal Al-Ahmed Al-Jaber Al-Sabah witnessed the signing of 4 separate agreements between Turkey and Kuwait. These agreements hold great importance for deepening economic and trade relations between the two countries.

Official Contacts and Meetings

President Recep Tayyip Erdoğan, who traveled to Kuwait for official talks, was welcomed with a formal ceremony and held bilateral and inter-delegation meetings with the Emir of Kuwait. Following the meetings, Erdoğan presented Kuwait's Emir with Turkey's domestic electric car Togg.

Signing Ceremony and Agreements

After the meetings held at the Bayan Palace, agreements were signed between the two countries covering cooperation in various fields. First, a "Maritime Transport Agreement" was signed between Turkey and Kuwait. In addition, a Memorandum of Understanding on the "Mutual Recognition of Seafarers' Certificates" was accepted between the Ministry of Transport and Infrastructure and the Kuwait Ministry of Interior. These two documents were signed by Foreign Minister Hakan Fidan and the Deputy Prime Minister and Minister of Interior of Kuwait, Sheikh Fahad Yusuf Saud Al-Sabah.

Agreements in Energy and Investment

The third memorandum, covering cooperation in the field of energy, was signed by Minister of Energy and Natural Resources Alparslan Bayraktar and the Kuwait Minister of Electricity, Water and Renewable Energy, Acting Minister of Finance, and State Minister for Economic Affairs and Investment Dr. Subaih Abdulaziz Abdulmohsen Al-Muhaizem.

Finally, a cooperation memorandum in the field of direct investment incentives was signed between the Presidency of Investment and Finance Office and the Kuwait Direct Investment Promotion Authority (KDIPA). This agreement was signed on behalf of Turkey by President of the Investment and Finance Office Ahmet Burak Dağlıoğlu, and on behalf of Kuwait by KDIPA Director General Sheikh Dr. Meshal Jaber Al-Ahmed Al-Sabah.

Beginning of a New Era

These 4 agreements are regarded as the beginning of a new era in strengthening economic, commercial, and energy relations between Turkey and Kuwait.