Kuwaiti-Qatari trade volume hits USD 360 mln in 2017

KUWAIT, The volume of trade between Kuwait and Qatar has surged to USD 360 million in 2017, a significant growth by 100 percent, compared to USD 173 million in 2016, Kuwait Chamber of Commerce and Industry announced Monday.

Meanwhile, KCCI mentioned, in a press statement, its hosting earlier of the Qatari-Kuwaiti Business Forum, which is organized by Qatar Development Bank in partnership with Ernst and Young Global Limited.

The two-day event is part of preparing a study on the Kuwaiti market to evaluate commercial opportunities available in vital industries such as plastic, aluminum, iron, medicine, food, oil, and gas, it said.

KCCI’s board member Wafa Al-Qatami represented the Kuwaiti side at the forum, while the Qatari side was represented by Hassan Al-Mansouri, Executive Director of Qatar Export Development Agency “Tasdeer”, added the statement.

Al-Qatami, also head of KCCI’s financial and investment committee, said the event tends to enhance investment and commercial ties between Kuwait and Qatar, noting the Kuwaiti business sector closely follows, with pride and appreciation, the Qatari economy and its successes in establishing solid and advanced economic foundation through best use of the country’s natural resources, geographic location, and modern infrastructure.

The Qatari business sector is very familiar with the core components of the Kuwaiti economy, especially after the recent amendments in economic legislations and laws, she said, adding such amendments contributed in improving business and making it more attractive to foreign capitals in Kuwait.

For his part, Al-Mansouri noted that the comprehensive study on the Kuwaiti market, conducted by QDB, focused on the private sector’s products by Qatari small and medium-sized enterprises, adding around 38 products have been evaluated and founded to have attractive exporting qualities and ability to compete in the Kuwaiti market.

Source: Kuwait News Agency