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Kuwaiti Minister of Commerce, Industry: Kuwait and Qatar's Ties Role Model for Gulf and Arab Relations

Economy

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Kuwait, February 24 (QNA) - HE Kuwaiti Minister of Commerce and Industry Khaled Nasser Al Roudan said that the Kuwaiti-Qatari relationship is a model for Gulf and Arab relations due to its strength, vitality and firmness, noting that there is a constant aspiration to upgrade relations for the good of the two countries, the two peoples and the region.   In an interview with the Lusail newspaper published Monday, Al Roudan said that the volume of Qatar's exports to Kuwait amounted to $247 million until the end of the third quarter of 2019, while its imports from Kuwait amounted to about $47 million until the end of the third quarter of 2019, bringing the total volume of exchange between the two countries to about $294 million until the end of the third quarter of last year. Regarding the presence of the Qatari industry in Kuwait, he stressed that the participation of a number of Qatari factories in the "Made in Qatar" exhibition held in Kuwait will contribute to increasing trade exchange, introducing the level of the Qatari industry and how to benefit from it and exchanging experiences between the two sides, noting that exhibitions and forums give an opportunity for Kuwaiti and Qatari businessmen to form real partnerships and know about the investment climate and available opportunities. HE Minister Al Roudan expressed his country's welcome to Qatari investments in Kuwait in various economic sectors, because of the advantages enjoyed by Kuwait in providing safety for investors, calling on Qatari businessmen to contribute to the Kuwait Vision 2035 that has many major projects. The "Made in Qatar" exhibition was concluded in Kuwait on Saturday. The four-day event saw the participation of 220 Qatari manufacturing companies, and witnessed a large turnout from Kuwaiti businessmen and representatives of Kuwaiti companies from various sectors who were interested to meet with their Qatari counterparts and learn about the exhibiting industries. On the sidelines of the expo, a multitude of agreements and partnerships contracts were signed between Qatari and Kuwaiti companies. On January, the State of Kuwait signed a long-term agreement with the State of Qatar to import LNG for a period of 15 years, starting from 2022 to the end of 2036, in order to enhance trade relations between the two countries. There are currently 635 Qatari-Kuwaiti joint companies operating in the Qatari market. Commercial exchange between the two countries has recorded a growth of about 80 percent during the last three years. In Aug. 2018, a regular marine shipping line linking Hamad Port in Qatar to Shuwaikh Port in Kuwait was announced, through the inauguration of the operations of one of the privately owned ships that transport cargo and passengers. (QNA)

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