‘Kuwait-China agree­ments to serve in­ter­ests of their peo­ple’

Ex­perts full of praise for deals signed

Arab Times - - LOCAL -

KUWAIT CITY, July 12: Kuwait will be a ma­jor player in the im­ple­men­ta­tion of the Silk Road eco­nomic belt, which took off in 2006 in line with the vi­sion of His High­ness the Amir Sheikh Sabah Al-Ah­mad Al-Sabah to trans­form Kuwait into a global fi­nan­cial and trade hub by 2035, and re­flect­ing re­cent am­bi­tious prospects for re­viv­ing the his­toric ini­tia­tive, re­ports An­na­har daily.

The long-term vi­sion of China, its role and im­por­tance, cou­pled with the need to achieve strate­gic part­ner­ships, at­tained a long and sat­is­fy­ing path in bring­ing to­gether giant projects in the frame­work of bi­lat­eral co­op­er­a­tion with Kuwait.

Some ex­pert Kuwaiti econ­o­mists af­firmed the sign­ing of sev­eral fun­da­men­tal agree­ments be­tween Kuwait and China en­sures and strength­ens the in­sti­tu­tional mech­a­nisms on an eco­nomic ba­sis. It also stresses joint ef­fort of lead­ers of the two coun­tries to strengthen and up­grade the agree­ments to serve the in­ter­ests of their peo­ples in all fields. This is a unique ex­am­ple of the dis­tin­guished bi­lat­eral re­la­tions based on strate­gic part­ner­ship, which strongly points to a promis­ing fu­ture in the frame­work of un­der­stand­ing at­ti­tudes and di­rec­tions.

They stressed that the pro­ject of re­viv­ing the Silk Road will re­store Kuwait to its lead­ing role in the com­mer­cial and eco­nomic fields within the re­gion, es­pe­cially as it en­joys a dis­tin­guished ge­o­graph­i­cal lo­ca­tion.

They found a con­sen­sus be­tween the vi­sion of Kuwait (2035) and China’s “Belt and Road Ini­tia­tive” to re­vive the Silk Road, in ad­di­tion to cre­at­ing a vi­brant trade re­gion to serve other coun­tries via land and sea, which will con­trib­ute to pros­per­ity of the global econ­omy. They noted the se­nior Chi­nese of­fi­cials are show­ing full and clear co­op­er­a­tion on ways to ben­e­fit from the Kuwaiti is­lands and eco­nomic fea­si­bil­ity of Kuwait and the re­gion.

Al-Awadhi

Projects de­vel­op­ment

Econ­o­mist Qais Al-Ghanim be­lieves that Kuwait is a small coun­try, while China is big. It is cer­tain the part­ner­ship with China will yield re­turns to Kuwait in terms of funds, ex­per­tise and eco­nomic growth — es­pe­cially in light of the eco­nomic slow­down in the re­gion. He stressed that Kuwait needs in­vest­ment op­por­tu­ni­ties and part­ner­ship with China to en­hance op­por­tu­ni­ties and in­vest­ments in Kuwait and rest of the Gulf States.

He pointed to Kuwait sign­ing con­tracts and agree­ments with China for de­vel­op­ment projects in the north, which cov­ers the Silk Road. He stressed “there is no doubt that Kuwait is now ready for in­vest­ment, es­pe­cially af­ter es­tab­lish­ment of the Mubarak Port rep­re­sented as a strate­gic lo­ca­tion vi­tal for in­ter­na­tional com­mer­cial ex­change”.

Al-Ghanim added “China is de­vel­op­ing its in­ter­na­tional diplo­matic and eco­nomic re­la­tions through the Silk Road to link Europe with Asia un­til their trains ar­rive at Lon­don. This con­firms the in­sis­tence of China’s move to link its in­ter­na­tional trade with the world through this mam­moth pro­ject that will re­duce com­mer­cial flights and con­trib­ute to re­duce cost and their time­lines”.

Al-Ghanim

In this con­text, busi­ness­man Ab­dul Salam Al-Awadhi stated China is the sec­ond largest econ­omy in the world af­ter the United States of Amer­ica, and there is no doubt that part­ner­ship with them will yield sig­nif­i­cant progress for small and emerg­ing coun­tries.

“We need this eco­nomic giant to de­velop the is­land projects and in­vest in cities in the north, in ad­di­tion to the de­vel­op­ment of ports and con­struc­tion of the Silk Road. The visit of HH the Amir to China and the sign­ing of agree­ments to es­tab­lish a strate­gic part­ner­ship base will re­al­ize great de­vel­op­ment, es­pe­cially as it re­flects the de­sire to im­ple­ment and ful­fill the eco­nomic vi­sion 2035 and sub­se­quent projects”, he stated.

Al-Awadhi said, “Our coun­tries have el­e­ments that need the ex­per­tise and ca­pa­bil­i­ties of the big coun­tries and China leads the im­por­tant economies in the cur­rent stage. Diplo­macy with China dates back to the era of the late Amir Sheikh Jaber Al-Ah­mad. To­day, we see His High­ness the Amir Sheikh Sabah Al-Ah­mad link­ing the present with the past to push for­ward the econ­omy of Kuwait in part­ner­ship with a su­per­power like China.”

A princely vi­sion

Board Chair­man of Global Foun­da­tions Cor­po­ra­tion Me­shari Al-Mar­shad said the eco­nomic belt ini­tia­tive (of the Land Silk Road and Sea Silk Road is in line with the vi­sion of His High­ness the Amir Sheikh Sabah Al-Ah­mad Al-Sabah to trans­form Kuwait into a global fi­nan­cial and trade hub in 2035), and re­flect­ing new and am­bi­tious prospects for re­viv­ing the his­toric Silk Road.

He added these de­vel­op­ment projects will be a great ad­di­tion to the part­ner­ship be­tween pub­lic and pri­vate sec­tors in achiev­ing the vi­sion of His High­ness the Amir Sheikh Sabah Al-Ah­mad Al-Jaber Al-Sabah to trans­form Kuwait to a fi­nan­cial and com­mer­cial hub in the north­ern Ara­bian Gulf — ex­tend­ing its ac­tiv­i­ties to Asia and Europe. He pointed out that “HH the Amir has a clear vi­sion to trans­form Kuwait to a fi­nan­cial, com­mer­cial and ser­vice hub through the es­tab­lish­ment of one of the largest in­ter­na­tional ports in the re­gion based on tran­sit trade in the past.

Kuwait is mov­ing with China in a clear line based on its com­mit­ment to work­ing with se­nior Chi­nese of­fi­cials cou­pled with con­vic­tion and full con­fi­dence in the strate­gic re­la­tions, his­tor­i­cal friend­ship, and the im­por­tance of gi­gan­tic projects China is look­ing for­ward to par­tic­i­pate in and con­trib­ute its full po­ten­tial.

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