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Sunday , December 8 2019

Kuwait seeks more cooperation with Turkish steel sector – Al-Khorafy says KCCI to facilitate process for Turkish firms to engage with local companies

Kuwait City, Nov 21: Board member  of the Kuwait Chamber of Commerce and Industry  Hussaind Al-Khorafy stated that the Kuwaiti industry demands more cooperation and collaborations with companies from the Turkish steel sector.

He asserted that Turkey is considered to be one of the leading countries in terms of exporting steel produce to the Middle East, and that it is more than capable of supplying for large projects and constructions.

In a meeting with delegations from the Turkish steel exporters association headed by its chairman Nam¦k Ekinci, Al-Khorafy asserted that Turkish companies are more than welcome to engage in business with its Kuwaiti peers in this sector, especially during this period in time, where the country is witnessing an influx of large projects and construction.

He also mentioned that the Kuwait Chamber of Commerce and Industry will facilitate all the needs for engaging with local business, and identifying the country’s demands in terms of steel produce.

In the sideline of the visitation, a Business to Business (B2B) meeting was organized at the Sheraton Hotel last week, where concerned Kuwaiti companies were able to engage with the 22 leading Turkish steel exporting companies participating in the event.

Aiming to bring representatives from steel industries and senior officials of both countries together, and create a discussion platform for new business opportunities to reinforce the steel industries of Turkey and Kuwait.

Speaking to the Arab-Times, Chairman of the Turkish Exporters Association Mr.  Nam¦k Ekinci mentioned the historic relations between Turkey and Kuwait which creates advantages for both sides when it comes to business collaborations.

He affirmed that Turkey is the 8th steel exporting country in the world, which was achieved by the affordable prices in addition to the high quality of the products, made possible by implementing the highest technologies with dedicated teams of engineers to see to happen.

When asked about the nature of business between Turkey and Kuwait in the recent past, Nam¦k said that it  has been fluctuating throughout the recent years, Kuwaiti exporting activities in the steel sector has dropped by 50% although its average steel imports are estimated at 2 million tons in the last 5 years, 187 thousand was from Turkey alone.

 He also pointed out that Kuwait’s steel imports has dropped by 8% but Turkey maintains the  majority share, with an indicating growth as for 2014/2015, where Kuwait has increased its steel Imports from 8500 tons  to 100 thousand tons, and that despite this growth, China remains as Kuwait’s number one supplier of steel products.

Addressing the quality and prices in comparison to competing countries such as India and China, Mr. Namik said that everyone knows that the tallest building in the world right now, is the Khalifa Tower in the UAE, and 100% of the tower’s steel is Turkish, which speaks about its quality.

He added that 95% of Dubai’s steel needs in supplied by Turkey, and despite China’s attempt to undercut the market, Dubai maintains its steel imports from Turkey.

Namik went on to mention that a high percentage of the Hong Kong Airport’s and Heathrow Airport’s steel construction needs was also supplied by Turkey.

When it comes to prices, Turkish Steal is very competitive, as Turkey imports materials at a low price, and by using economic production, Turkey is able to export high quality produce without adding high profits.

Namik concluded by pointing out that in addition to the buy and sell relations between Turkey and Kuwait, we are looking to see Turkish producers to engage with its Kuwaiti peers and enhance the productivity.

This way,  Kuwaiti will be able to supply for local demands and then expand into exporting to neighboring countries. He also said that with future collaborations between Turkish and Kuwaiti officials, the steel industry in both countries should see a bright future.

By Ahmed Al-Naqeeb

Arab Times Staff

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