Kuwaits investments in US reach $300bln

KUWAIT CITY - The American Ambassador to Kuwait Lawrence Silverman reveals that the value of the commercial exchange between Kuwait and the USA exceeds $6 billion, reports Al-Anba daily.

In a press release, he said last year witnessed an unprecedented rate of American products being exported to Kuwait, praising the development of commercial relations between the two friendly countries. Ambassador Silverman highlighted some important deals that were signed between Kuwait and the USA last year including the deal for the purchase of ten Boeing 777 aircraft, which was considered as an important step towards upgrading the fleet of Kuwait Airways.

He disclosed that Kuwaiti investments in the United States of America have reached $300 billion, affirming that the investments are strong and they are increasing because of good profits obtained from them.

The ambassador indicated that a petrochemical factory will be inaugurated in Texas next year which will represent the fruit of the partnership between Dow Company and EQUATE Petrochemical Company. He pointed to the capability of American companies to participate in huge developmental projects of Kuwait including designing and development of new cities and islands, adding that as soon as the American companies receive details of the required projects and infrastructure, the companies will express their desire to participate. Ambassador Silverman affirmed the keenness of both the USA and the six GCC countries to organize and participate in the American-Gulf Summit.

He also stressed the keenness of his country to solve the Gulf crisis by supporting the efforts of Kuwait in this regard. He said America is in constant touch with the Gulf countries over a number of serious matters including security cooperation, fighting terrorism and economic cooperation.

Concerning Russia’s decision to dismiss 60 American diplomats in reaction to the America’s decision to dismiss 60 Russian diplomats, Ambassador Silverman explained that the Russian step was expected.

The USA has been studying additional procedures in this regard, as it will not allow the Russians to threaten the security of other countries and interfere in their internal affairs. Using chemical weapons against civilians has dangerous consequences and brings about the death of large number of victims. He indicated the willingness of the USA to share good relations with Russia, but it will depend on a change in the Russian attitude.