Kuwait-Pakistan Trade Flourishes: Exchange Surpasses $590 Million in 2023

Kuwait, 30 May, 2024 : Kuwait and Pakistan witnessed a significant surge in non-oil trade exchange, reaching USD 590 million in 2023, announced Ziad Al-Najem, Undersecretary of Kuwait's Ministry of Commerce and Industry. Al-Najem highlighted this achievement during the commencement of the technical experts meeting of the fifth Kuwait-Pakistan ministerial committee.

The meeting aims to bolster economic and commercial cooperation between the two nations through the signing of mutual agreements in investment, economic, and commercial sectors. Al-Najem emphasized Kuwait's commitment to opening its market for foreign investments, aligning with the country's vision to become an international financial and commercial hub.

Underlining the importance of the private sector, Al-Najem emphasized its pivotal role in driving economic growth, in line with Kuwait's future aspirations. The meeting, scheduled until May 30, seeks to explore new avenues of collaboration and address existing obstacles in economic, investment, and commercial relations.

Notable past engagements between Kuwait and Pakistan include former commerce and industry minister Khaled al-Raudhan's visit to Pakistan in 2018 and the Pakistani premier's visit to Kuwait last year, indicating the prosperity and development of economic, commercial, and investment ties.

During the ongoing meeting, discussions revolved around draft agreements in the industry and agriculture sectors, alongside deliberations on the latest bilateral developments. Representatives from various ministries and government agencies participated in the meeting, underscoring the comprehensive nature of Kuwait-Pakistan collaboration.

The outcomes of the committee's deliberations will be presented in a ministerial meeting led by Kuwait's Minister of Commerce and Industry, and Minister of State for Communications Affairs, Omar al-Omar, scheduled for Thursday.

Source : www.zawya.com