KUWAIT: The Kuwait Chamber of Commerce and Industry (KCCI) on Monday reiterated the depth of the historic economic relationship between Kuwait and India, adding that the volume of non-oil trade between the two countries exceeded $2 billion in 2022.
The KCCI received a visiting Indian economic delegation and hosted a meeting at its headquarters on Monday. The delegation, headed by the Executive Vice President of the Federation of Indian Export Organizations (FIEO) Israr Ahmed and accompanied by Indian Ambassador Dr Adarsh Swaika, comprised representatives of 30 Indian companies operating in the field of food and agriculture. Representatives of Kuwaiti companies and the Public Authority for Food and Nutrition in Kuwait were also present at the reception.
The KCCI stated that the relationship between the two countries is more than a partnership in trade and business, but rather a bond of friendship that has grown over generations. It underscored the need to explore new opportunities to deepen this friendship and consolidate relations further. It explained that the meeting is the result of KCCI’s keenness on food security and the need to involve Kuwaiti companies in all sectors, especially the small and medium industries by encouraging them and providing them appropriate investment opportunities that contribute to achieving and strengthening the food security system in Kuwait.
In a statement, Ahmed expressed his gratitude to the Chamber for organizing the meeting that focused on the food and agricultural sector which constituted one of the most prominent Indian exports. He emphasized that Kuwait is an important trading partner of India and that "the hard work with his country’s government to provide the appropriate environment for establishing and encouraging effective businesses and partnerships” contributed to the growth of trade exchanges between the two countries by about 7 percent during 2023.
The Indian Ambassador expressed happiness with the presence of his country’s delegation in Kuwait, which reflected the interest of both sides in strengthening existing relations, adding that the leaderships of the two countries encourage further strengthening of the bilateral relations. The Ambassador extended an invitation to the Kuwaiti side to visit India and learn about the available investment opportunities. An exhibition of Indian products was opened at the KCCI building which will last for two days. The exhibition seeks to introduce many Indian products and provide an opportunity to explore and establish partnerships between the two sides, especially in the food and agricultural sector. — KUNA