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Muscat – The Omani-Kuwaiti Economic Forum and an accompanying exhibition started on Monday in Kuwait aiming to enhance trade and investment cooperation, promote products from both countries and increase the volume of bilateral trade exchange.
H E Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, emphasised the fact that the forum and joint exhibition reflect the depth of fraternal ties between Oman and Kuwait. He said the leaderships of both nations have conducted successful visits this year, underscoring the strength and importance of their relationship. These efforts pave the way for broader ambitions and aspirations in fostering collaboration and joint initiatives between the two countries.
H E Yousef affirmed that Kuwait is a strategic partner of Oman, emphasising a commitment to strengthen economic relations under the directives of the leaderships of both nations. He highlighted the focus on enhancing trade and investment cooperation in priority sectors to create job opportunities and support sustainable development in both countries.
He expressed hope that the forum would prioritise opportunities for trade and investment cooperation, increasing the volume of trade exchange, exchanging expertise and knowledge, and fostering strategic partnerships between companies and businessmen from both nations.
H E Yousef called for discussions on export development, the investment environment and collaboration in key sectors such as industry, tourism, logistics, food security and food industries.
He further stressed the importance of achieving integration between Oman and Kuwait to align with the objectives of Oman Vision 2040 and Kuwait Vision 2035, particularly in trade, industry and investment.
On the occasion, Faisal bin Abdullah al Rawas, Chairman of Oman Chamber of Commerce and Industry (OCCI), emphasised the private sector’s commitment in both Oman and Kuwait to leveraging opportunities in promising sectors to expand cooperation and enhance mutual investments for shared benefits.
He noted that the forum includes bilateral meetings between Omani and Kuwaiti companies, providing a platform to explore trade opportunities and exchange expertise. The OCCI chief informed that the accompanying exhibition showcases the quality and competitiveness of Omani products in Kuwaiti and Gulf markets.
On the sidelines of the forum’s opening, a memorandum of understanding was signed to establish a joint Omani-Kuwaiti company with capital of RO3mn. The company will focus on key sectors, including education, infrastructure and oil services, further strengthening economic collaboration between the two nations.
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