Gul calls on Kuwaiti entrepreneurs to invest in Turkey

Addressing a meeting of the Turkey-Kuwait Business Forum held by the Kuwaiti Chamber of Industry and Commerce yesterday, President Abdullah Gul, on an official visit to the oil-rich country, called on its entrepreneurs to invest in Turkey. Stressing that there is a great business potential between the two countries and room for more cooperation in all areas, Gul said Kuwaiti investors should send their money to countries with low-risk profiles. He said Turkey is ripe for investments, with a great potential for economic growth and minimal risks, thanks to reforms enacted in recent years. Citing Kuwaiti plans to make spend $160 billion on infrastructure over the next five years, Gul said this presents a great opportunity for Turkish entrepreneurs. Also speaking at the forum, Turkish Union of Chambers and Commodities Exchanges (TOBB) head Rifat Hisarciklioglu said last year's bilateral trade volume of $500 million fell short of its potential. Touting the real estate, logistics and tourism opportunities Turkey provides for foreign investors, he added that Turkish businesspeople could make infrastructure investments in Kuwait. Together with Kuwaiti Emir Sabah al-Ahmad al-Jabir al-Sabah, Gul yesterday also attended celebrations marking the 75th anniversary of the Kuwait Oil Company. During the ceremony, Kuwaiti Oil Minister Ahmad al-Abdullah al-Ahmad al-Sabah and Kuwait Oil Company Chairman and Managing Director Sami Fahad Al-Rushaid delivered speeches on the firm's present and future. Gul later attended a dinner in his honor hosted by Kuwaiti Prime Minister Nasir Al-Muhammad al-Ahmad al-Sabah.