Kuwait, Uzbekistan eye MoU to foster trade and investment cooperation
KUWAIT: Kuwait Chamber of Commerce and Industry on Wednesday received an economic delegation from the Republic of Uzbekistan, led by Uzbekistanís Foreign Minister Bakhtiyor Saidov.
KCCI officials and Uzbekistan economic delegation hold talks.
He added that over the past twenty years, opportunities between the two countries have steadily grown due to the shared visions and efforts of both countries, pointing out that Kuwait seeks to deepen relations and uncover hidden opportunities.
For his part, Uzbek Foreign Minister Bakhtiyor Saidov emphasized the strength of the bilateral relations between the two countries, noting that they have significantly developed in recent years, affirming that his country is rich in significant investment opportunities such as in food and agricultural products, light industries, medical supplies, confectionery, and poultry farming, hoping Kuwaiti investors would become well-acquainted with these opportunities available in Uzbekistan.
KUWAIT: (Left to right) Firas Al-Oda, Assistant Director General of Kuwait Chamber of Commerce and Industry, Uzbek Foreign Minister Bakhtiyor Saidov and Kuwait's Assistant Foreign Minister for Asian Affairs Ambassador Samih Hayat touring the exibihition.
For his part, Saleh Alazemi, Assistant Undersecretary for International Organizations and Foreign Trade Affairs Acting at the Kuwaiti Ministry of Commerce and Industry, said that international challenges in recent years have played a significant role in changing many concepts of international trade policy, noting that the importance of adopting modern trade policies and reinforcing the principles of free trade and multilateral international agreements is a must to increase trade exchanges and diversify its sources.
On the sidelines of the meeting, an Uzbek product exhibition was inaugurated, which was attended by the Kuwaiti side in addition to the delegation that included 60 business people and 15 officials representing the Uzbekistan Ministries of Industry, Trade, Finance and Health.
The Uzbek exhibition is considered an entry point for further bilateral cooperation between the two friendly countries,î he said, adding that the proposal of a draft memorandum of understanding in the field of trade cooperation between the two countries can be the first step to increase trade exchange rates. He indicated that the first step of this cooperation will begin with the establishment of a joint trade committee between the two countries, with the private sector playing a central role.
