Economic, commercial and investment relations between Kuwait and Pakistan are prosperous
KUWAIT – The volume of non-oil trade exchange between Kuwait and Pakistan reached USD 590 billion in 2023, Undersecretary of Ministry of Commerce and Industry Ziad Al-Najem said Tuesday.
The country has started focusing on further economic and commercial cooperation with courtiers across the world, Al-Najem said in a speech during a meeting of technical experts of the fifth Kuwait-Pakistan ministerial committee that kicked off earlier in the day.
This collaboration will be done through signing mutual agreements in investment, economic and commercial fields, and holding joint committees as well as opening Kuwait’s market for foreign investments, he added.
Kuwaiti government is paying much attention to the private sector as the main pillar that works on activating economic process growth, in line with the future vision of the country aiming to transform it into an international financial and commercial hub and attract foreign investments in the region, Al-Najem told the meeting which will last until May 30.
Economic, commercial and investment relations between Kuwait and Pakistan are prosperous and developed shown in sharing visits, he said, referring to the visit of former commerce and industry minister Khaled al-Raudhan to Pakistan in 2018 and Pakistani premier visit to Kuwait last year.
He said they seek, through this meeting featuring also Kazim Niaz, Secretary for Pakistan’s Economic Affairs, to open new horizons of mutual collaboration in all fields to learn about investment and commercial opportunities, and remove all obstacles and problems facing the two sides.
He expressed hope that the gathering would result in reaching desired outcomes that contribute to enhancing and developing economic, investment and commercial relations between the two friendly countries.
During the meeting, the committee discussed a deal draft in industry, and a memorandum of understanding draft in agriculture, in addition to the latest developments in bilateral relations.
The meeting featured representatives of several ministries and government agencies, including the Ministries of Finance, Interior, Foreign Affairs and Health as well as others.
The committee is set to submit its report to the ministerial meeting on Thursday led by Minister of Commerce and Industry, and Minister of State for Communications Affairs Omar al-Omar.
Source: Zawya
