US se­cu­rity in­dus­try firms to visit Kuwait and Saudi

Kuwait Times - - LOCAL -

WASHINGTON: US Act­ing Un­der­sec­re­tary of In­ter­na­tional Trade Ken Hy­att will visit Kuwait and Saudi Ara­bia from Novem­ber 12 to 18 as the head of a safety and se­cu­rity in­dus­try trade del­e­ga­tion of 16 US firms. The mis­sion will in­tro­duce these firms to the re­gional se­cu­rity market in the two Gulf coun­tries and will pro­vide the op­por­tu­nity for ex­port chan­nels, the US Depart­ment of Com­merce said in a state­ment on Thurs­day. The del­e­ga­tion in­cludes a di­verse group of small and medium-sized en­ter­prises (SMEs) and large cor­po­ra­tions. Com­ment­ing on the visit, Hy­att said “the Gulf region rep­re­sents enor­mous ex­port po­ten­tial for US com­pa­nies.”

As de­fense and se­cu­rity mar­kets con­tinue to grow glob­ally “firms on this mis­sion are well-po­si­tioned to en­ter into part­ner­ships with Kuwaiti and Saudi busi­nesses and gov­ern­ment,” he said. “The Depart­ment of Com­merce has a proven track record of pro­vid­ing ex­port as­sis­tance to com­pa­nies look­ing to en­ter or ex­pand in tar­get mar­kets,” he added. The mis­sion will visit Kuwait, and Riyadh and Dhahran in Saudi Ara­bia, with Hy­att ex­pected to meet state of­fi­cials and in­dus­try rep­re­sen­ta­tives to dis­cuss trade pri­or­i­ties and po­ten­tial ar­eas of co­op­er­a­tion.

Dur­ing the vis­its, these firms will gain in­sights on the region’s ex­pand­ing mar­kets, learn best prac­tices and cre­ate con­tacts with prospec­tive part­ners. The com­pa­nies will re­turn with a deeper knowl­edge of the area and its dy­namic growth in the se­cu­rity space, said the state­ment. Kuwait is im­ple­ment­ing a coun­try-wide plan to sig­nif­i­cantly in­crease in­vest­ment in safety and se­cu­rity equip­ment through 2020. On the other hand, Saudi Ara­bia has been the world’s big­gest de­fense market for US ex­porters over the past two years. It is fore­cast to pro­cure $14 bil­lion worth of se­cu­rity sys­tems and ser­vices over the next three years, the state­ment men­tioned. — KUNA

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