Canada’s former deputy prime minister visits Kuwait to promote investment
Canada ranks as easiest country to start a business Joint venture with Pembina Pipelines discussed
KUWAIT: Canada’s former deputy prime minister Jean Charest is in Kuwait to promote Canada and meet businesspeople. Yesterday, he hosted a seminar to introduce Canada to Kuwaiti businesspeople and presented business proposals for mutual benefit. “We want to connect to the Middle East firmly. Canada is a trading nation - we depend heavily on trade. We are reliable trade partners.
Just like Kuwait, we also believe in business diversification. Kuwait is hosting the reconstruction conference for Iraq, which is very significant. Kuwait has a place in the Middle East as an honest broker - a country with great similarity to Canada,” Charest said.
Kuwait and Canada enjoy strong and growing bilateral relations, which are founded on fundamental principles and values shared by the two nations. Canadians contribute to Kuwait’s economy with a wide range of services and products in fields such as engineering, aerospace, education, medical consultancy and architecture. “We both have the capacity to invest in our countries’ opportunities. The oil and gas industries are complementary areas in which we can work together as we have lots of expertise in this regard. We are also looking for partners who want to invest in banks, pensions and insurance. We have a vast opportunity for businesspeople in Canada, and want to welcome them in our country,” he added.
Charest lauded Canada’s approach to education. “You want to study in the best universities abroad, and Canada is the best place for excellent education programs. We host many Kuwaitis who are studying medicine and other subjects,” he said.
Investment climate
More than 100 people attended the event, during which Charest highlighted Canada’s welcoming investment climate and the fact that it is ranked as the easiest country in the G7 and OECD to start a business. He further noted that a sound and effective financial system, combined with low business costs, world class innovation and a stable, progressive democracy, render Canada the investment destination of choice for Kuwaiti institutions and individuals alike.
Charest also participated in individual meetings with Kuwaiti investors, including the Kuwait Investment Authority (KIA) and Petrochemical Industries Company (PIC). His meeting with PIC included discussions regarding the company’s recent joint venture with Canada’s Pembina Pipelines and opportunities in the petrochemical sector in Canada generally. In addition, Charest met with members of the Canadian business community in Kuwait in order to gain their perspectives on CanadaKuwait commercial relations. Finally, Charest availed himself to speak with media, during which he further emphasized the strengths of the Canadian economy and the competitive advantages of investing in Canada.
Charest possesses a wealth of expertise and experience not only in government, but also in the private sector, where he is now a senior partner in the Montreal-based law firm McCarthy Tetrault. An impassioned promoter of Canada, Charest is also a staunch advocate of global trade and investment, as well as a champion of environmental protection. His visit to Kuwait serves to reinforce the government of Canada’s message that Canada offers a strong and stable business climate that is open for business, investment, and trade.
Furthermore, Canada benefits from a sound, efficient financial system that is