Ameliorating level of trade exchange and economic relations are high on the agenda of His Highness the Prime Minister Sheikh Jaber Mubarak Al-Hamad Al-Sabah’s visit to China, said Deputy Chairman of the Kuwait Chamber of Commerce and Industry (KCCI) Abdulwahab Al-Wazzan.
“His Highness the Prime Minister’s visit would be decisive and vital for encouraging trade, investment and industrial exchange between the two countries,” Al-Wazzan told KUNA Tuesday.
Al-Wazzan, who heads KCCI’s delegation accompanying His Highness Sheikh Jaber, pointed out that Kuwait has decades-long special trade relations with China.
“Kuwait was the first Gulf country to have trade relations with China in 1955 and diplomatic relations in 1971.” He stated that China is the largest trade partner to Kuwait.
“The bilateral trade exchange between Kuwait and China hit over USD 12 billion in 2013,” he told KUNA, adding that Kuwait is China’s seventh biggest oil exporter with exports of about 294,000 barrel per day.
Al-Wazzan unveiled that Kuwait seeks to implement energy projects in China such as the long-discussed petrochemical and oil refinery complex.
“We hope the final arrangements for this project would be completed during the current visit of His Highness the Prime Minister to China,” he said.
On Kuwait’s vision to bolster trade relations with China, Al-Wazzan hopes Kuwait will have a commercial port to be a gateway to China via Iraq and Iran which will help materialize His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah’s outlook of turning Kuwait into a regional financial and commercial hub.
“Achieving this, would also revive the commercial Silk Road which would buttress Kuwait economic position,” he said.
On the other hand, Al-Wazzan said that Kuwait encourages and welcomes Chinese companies, especially the construction ones, to contribute to the execution of Kuwait’s state development plan projects.
Source : KUNA Kuwait News agency
