3/9/2010

Kuwait seeks agro-food investments in Turkey

 

Reuters - Kuwaiti companies and other Gulf Cooperation Council members are looking to invest in agriculture and food in Turkey, and could sign a number of contracts this year, said Alpaslan Korkmaz, President of Turkey's investment agency.

 

"We have a lot of interest, particularly from Kuwaiti companies", Korkmaz, President of the Investment Support and Promotion Agency of Turkey (ISPAT), told Reuters on the sidelines of a conference held in Kuwait City on Sunday. "This year we will have realized investments from the GCC in Turkey in the agro-food business", he said. However, he did not disclose any further details. Investments would be in cereal production, animal farming and food processing, according to Korkmaz.

 

Kuwaiti investors are also interested in the real estate, renewable energy and banking sectors, said Korkmaz.

 

"We see a continuous increase in investments from the GCC. Last year, there was slightly more than USD 500 million entering Turkey, so hopefully this year we will see it above USD 1 billion", he said.

 

alpaslan korkmaz; ispat; kuwait; gcc; gulf countries; turkey; agriculture; food; agro-food; investment

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