STORY HIGHLIGHTS


Kuwait to elevate bilateral cooperation with China

CNC
Added On July 7, 2018

The minister will accompany Kuwaiti Emir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah on a state visit to China from July 7 to 10.

 

The visit is expected to further cement the substantial and stable development of the Kuwait-China ties since the establishment of the diplomatic relations in 1971.

 

During the visit, the Kuwaiti emir will also attend the opening ceremony of the eighth ministerial meeting of the China-Arab States Cooperation Forum in Beijing.

 

The minister said the visit is a new step toward a bilateral strategic partnership, especially in the economic and oil areas, on the basis of solid and extraordinary relations between the two countries.

 

The minister said the bilateral cooperation covers the areas of trade, investment, finance, energy, culture, health and industry.

 

According to Al-Roudhan, the value of Kuwaiti imports from China in 2017 reached about 4.6 billion U.S. dollars.

 

In February 2010, the Kuwaiti government unveiled "Kuwait 2035," a national development strategy to turn the country into a trade and financial hub.

 

In 2015, the Kuwaiti government announced plans to develop five islands off the eastern coast of the country into free trade zones.

 

Kuwait hopes to cooperate with China to push forward the "Kuwait 2035" plan within the Belt and Road Initiative proposed by China in 2013.

 

The minister is interested in strengthening the bilateral cooperation in e-commerce with China, since Chinese enterprises have a lot of experience in this area.

 

SOUNDBITE (English): KHALED AL-ROUDHAN, Kuwaiti Minister of Commerce and Industry

"Kuwait has a lot of competitive advantage (in developing e-commerce), our friends, ally, China and we can work and develop this area. There is a lot of opportunity. There is a lot of competitive advantage, where the companies can utilize the benefits from this advantage. The Chinese companies are more welcomed to come to invest in Kuwait."

 

During his visit to China last year, Al-Roudhan met with representatives of Chinese e-commerce giant Alibaba, explaining the advantages and benefits for foreign investment in Kuwait and other incentives offered by the Kuwaiti government.

 

On the Chinese companies already operating in Kuwait, the minister praised their role in promoting the economic and social development of Kuwait during the past years.