Doha bank holds sem­i­nar on in­ter­na­tional trade

The Pak Banker - - Company& -

KUWAIT: Doha Bank, one of the lead­ing banks in Qatar and one of the Qatari bank­ing in­sti­tu­tions op­er­at­ing in Kuwait, has or­gan­ised a sem­i­nar en­ti­tled "Strength­en­ing In­ter­na­tional Mu­tual Trade" dur­ing which a num­ber of econ­o­mists along with the bank of­fi­cials have dis­cussed the im­por­tance of en­hanc­ing in­ter­na­tional and re­gional mu­tual trade with the State of Kuwait in the fu­ture in or­der to boost the global econ­omy.

On the side­lines of the sem­i­nar lec­tured by Rashid Al Tabtabai, the Un­der­sec­re­tary of the Min­istry of Trade and In­dus­try, R Seethara­man, the Chief Ex­ec­u­tive Of­fi­cer of Doha Bank Group, and Chris Fell­ner, Head of In­ter­na­tional Bank­ing Depart­ment at Doha Bank, the most im­por­tant pos­i­tives of sup­port­ing trade re­la­tions be­tween the world economies and in par­tic­u­lar the GCC re­gion have been re­viewed.

Fell­ner has re­vealed the size of the surge wit­nessed by the global trade rates over the past four years, not­ing that since 2005 un­til 2009, the rate was up by about 54 per­cent.

Fell­ner added that in­ter­na­tional trade in terms of ex­ports and im­ports to and from Kuwait has wit­nessed sig­nif­i­cant mo­men­tum dur­ing the same pe­riod, where ex­ports rose from KD6.1bn to KD14.4bn (about 55 per­cent), while im­ports in­creased from KD3.2bn to KD5.1bn.

Rashid Al Tabtabai said that Kuwaiti plan per­tain­ing to re­view­ing the trade pol­icy that is in­tended to be ini­ti­ated in De­cem­ber 2011, which will help to strengthen its po­si­tion among the coun­tries ac­ced­ing to World Trade Or­gan­i­sa­tion. With re­gard to the over­all eco­nomic vi­sion and its im­pact on the sup­port of in­ter­na­tional trade re­la­tions, Seethara­man said: "Na­tions of the world are now try­ing to get out of the clutches of the global fi­nan­cial cri­sis.

Many coun­ties have suc­ceeded in this en­deav­our, es­pe­cially the emerg­ing economies, which in­clude the Gulf that have achieved a ma­jor im­prove­ment in their rev­enues with the in­crease of oil prices world­wide to their pre-cri­sis lev­els."

He ex­pected that Kuwait will wit­ness a sig­nif­i­cant re­cov­ery in the com­ing pe­riod with re­spect to the lev­els of in­ter­na­tional trade for a num­ber of rea­sons; first of which is re­lated to the Kuwaiti vi­sion to be trans­formed to a global fi­nan­cial and trade cen­tre. - PB News

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