By Faten Omar

KUWAIT: Total bilateral trade between China and Kuwait has reached a historical high in 2022, amounting to $31.48 billion, Economic and Commercial Counselor of the Chinese Embassy in Kuwait Cheng Yongru said Wednesday at the promotion conference of the 133rd Canton Fair, scheduled to be held on April 15.

Total trade has jumped by 42.3 percent year-on-year, he said. China exported goods amounting to $4.97 billion to Kuwait and imported good amounting to $26.51 billion from Kuwait, where both imports and exports achieved growth. So far, China is Kuwait's largest trading partner and Kuwait is an important source of crude oil imports to China.

He added that China exported 524 buses and 35,500 passenger cars to Kuwait - double the volume of cars exported in the previous year. According to the information of the Kuwait Public Transport Company, the company has cooperated with Chinese automakers since 2006 and has imported about 1,100 traditional energy buses from China, accounting for more than 95 percent of the Kuwait bus market share.

"In January of 2023, the electric bus made in China was successfully put into the Kuwait market, becoming the first electric bus officially operated in Kuwait. We are confident that enterprises of the two countries will have cooperation in more new fields in the future," he said.

KUWAIT: Attendees listen to a keynote speech at the event.

He indicated that since the establishment of diplomatic relations between China and Kuwait in 1971, the two countries have always developed friendly relations, noting: "In 2018, the two countries established a strategic partnership. Political mutual trust has continued to be consolidated and economic and trade relations have developed steadily. At present, China-Kuwait economic and trade relations are showing vigorous development."

Yongru stressed that China mainly imports crude oil and petrochemical products from Kuwait, and its exports to Kuwait are traditionally dominated by supporting equipment for oil exploration. But in recent years, China's exports have gradually expanded to construction machinery, automobiles, telecommunication products and large oil tankers.

"To showcase new products and meet new trading partners requires an international and trustworthy platform; the Canton Fair is such a platform. Since its establishment in 1957, the Canton Fair has been playing an important role in promoting the development of trade between China and Kuwait," he affirmed.

Chu Shijia, Secretary-General of the Canton Fair, Director General of China Foreign Trade Centre.

Chu Shijia, Secretary-General of the Canton Fair said: "When it comes to Canton Fair, many Kuwaiti friends are not unfamiliar with it, and our regular buyers are among the guests here today. The Canton Fair is an important channel for China's foreign trade and a window of China's opening up."

Shijia, who is also Director General of China Foreign Trade Centre, said each session welcomes nearly 200,000 international buyers from 229 countries and regions, and has been renowned as "China's No. 1 Fair".  It plays a key role in promoting the economic and trade exchanges between China and the rest of the world.

"The 133rd Canton Fair will fully resume its physical exhibition after three years of COVID prevention and control, setting off on a new journey in the new era. The fair will present a brand-new image to the world as it will include its venue expansion for the first time. The accumulated exhibition area will increase from 1.18 million to 1.5 million square meters. The exhibition scale will also reach a new high. Over 30,000 exhibitors will participate, including more than 5,000 high-quality exhibitors, including manufacturing enterprises, and national high-tech enterprises, etc," he pointed out.

He revealed that national delegations from Turkey, South Korea, India, Malaysia and others will also participate, which will strengthen mutually beneficial cooperation with global industrial and commercial organizations.

Shijia said that during each session of Canton Fair, more than 600 Kuwaiti buyers are attending the fair, adding: "As of now, it has established partnerships with 177 industrial and commercial organizations in 98 countries and regions around the world, including the Kuwait Chamber of Commerce and Industry, influential in the Gulf region."