Turkiye and Kuwait Strengthen Bilateral Relations with Six Cooperation Agreements
Turkiye and Kuwait recently solidified their bilateral relations by signing six cooperation agreements in various sectors during Kuwaiti Emir Sheikh Meshal Al-Ahmad Al-Sabah’s visit to Ankara. The agreements cover defense, trade, energy, tourism, health, and diplomacy, marking a significant milestone in the 60th anniversary of diplomatic relations between the two countries.
Strategic Dialogue and Defense Procurement Agreements
Among the agreements signed, a protocol on defense procurement and a memorandum of understanding on strategic dialogue stand out. These agreements reflect the commitment of both countries to align their regional policies and enhance defense industry cooperation. The defense industry supply agreement signed during the visit indicates a mutual interest in advancing defense industry cooperation between Turkiye and Kuwait.
Trade and Economic Relations
Both countries aim to increase their trade volume to $1 billion, with Turkish exports to Kuwait exceeding $583 million last year. Kuwait also sealed a $367 million deal with Turkish drone manufacturer Baykar to purchase TB2 armed drones in 2023. However, despite these efforts, trade volume between the two countries is not high compared to their other trading partners. Strengthening trade relations is a key focus for both countries, with Kuwait seeking to diversify its economy in line with its Vision 2035 strategy.
Tourism and Investment
In the tourism sector, Kuwaiti tourists have shown a growing interest in visiting Turkiye, with Istanbul breaking a 10-year record for Gulf tourists last year. Trabzon, Bodrum, and Izmir are also top destinations for Kuwaiti tourists during the summer. Kuwaiti direct investment flow in Turkiye has continued to grow, reaching $1.5 billion so far this year. More Kuwaiti participation in the Turkish economy, especially through direct and portfolio investment, is expected in the near future.
Regional Politics and Security Partnerships
The recent visit by the Kuwaiti Emir to Turkiye holds significance in the context of regional politics and security partnerships. With a revived Turkish interest in developing relations with neutral states in the region, Turkiye and Kuwait are positioning themselves as a third alternative in the polarized Middle East region. The visit also reflects Kuwait’s willingness to strengthen ties with Turkiye amidst regional tensions and security concerns.
Looking Ahead
As Turkiye and Kuwait continue to strengthen their bilateral relations across various sectors, the focus remains on long-term goals and institutionalizing diplomatic capital. Both countries have shown a commitment to building a strong partnership based on mutual respect and trust. By expanding cooperation in trade, defense, tourism, and investment, Turkiye and Kuwait are paving the way for enhanced regional collaboration and economic prosperity.
In conclusion, the recent visit by the Kuwaiti Emir to Ankara marks a significant step forward in the bilateral relations between Turkiye and Kuwait. With a focus on strategic dialogue, defense cooperation, trade expansion, tourism promotion, and investment opportunities, both countries are poised to deepen their ties and contribute to regional stability and prosperity.