Kuwait, US mull ways to ‘enhance’ commercial ties and increase trade
Talks ‘very fruitful’: Al-Hajraf
WASHINGTON, April 21, (KUNA): Kuwaiti Minister of Commerce and Industry Khaled Al-Roudhan discussed with US Secretary of Commerce Wilbur Ross ways to enhance the commercial ties and increase the trade exchanges.
The talks, held at the US Department of Commerce on Thursday in the presence of Kuwait Ambassador to the US Sheikh Salem Abdullah Al-Jaber Al-Sabah, dealt with experience sharing and a range of bilateral issues.
Al-Hajraf termed, in statements to KUNA and Kuwait TV, the talks as “very fruitful”. “We focused on the efforts to enhance the trade exchanges, the joint programs to revitalize the small enterprises and giant companies in both countries,” he said. “We explored ways to transfer the US experience to the economic office to be launched the State of Kuwait in the near future,” the minister added.
Al-Roudhan noted that the value of Kuwait exports to the US, excluding the oil exports, hit $141.6 million last year while the imports topped $3.4 billion.
Presence
In the presence of AlHajraf, Al-Roudhan and Ambassador to the United States Sheikh Salem Abdullah Al-Jaber Al-Sabah, the US Chamber of Commerce organized a debate on the Kuwaiti economy on Thursday.
Addressing the gathering, Dr Al-Hajraf said the economic reforms in Kuwait offer ample opportunities for US investors and aim to redirect the government spending in an effective way.
The Kuwaiti government works to expand the ratio of the private investment in the gross national product through encouraging the private sector to play a leading role in the national economy, the minister pointed out.
He highlighted the importance of the Kuwaiti-US partnership in revitalizing the national economy of Kuwait, expanding the joint investment and creating more job opportunities. Dr Al-Hajraf affirmed Kuwait’s desire to further enhance the economic partnership with the US with a view to transferring expertise to Kuwait youth and attracting US investors.
Meanwhile, Al-Roudhan said the government spares no effort in facilitating foreign direct investment and removing the red tape facing global companies.
He explained the recent legislations adopted by Kuwait to improve the business atmosphere and strengthen the private-public partnership including introduction of the one-window system and the dispute settlement mechanism.