ShareWASHINGTON: Kuwait's ambassador to United States Jasem Al-Budaiwi visited the state of Nebraska this week where he held talks with top Nebraskan officials focused on food security cooperation and investment opportunities in Kuwait. The aim of the visit is to connect with US states to boost the cooperation on all levels, mainly in the fields of food security and agriculture exchange.
During his visit, Ambassador Al-Budaiwi met with several top officials in Nebraska, including the governor of Nebraska Pete Ricketts, the Secretary of State of Nebraska Robert Evnen, Congressman Don Bacon, the University of Nebraska President Walter Carter, CEO of Farm Bureau of Nebraska Mark Mchargue and representatives from Iowa based companies, in addition to Nebraska commodity groups and a group of Gulf War veterans.
Ambassador Al-Budaiwi said the visit was "successful," saying "we hope to exchange expertise and have a closer look at this cooperation," especially in food security that is considered a "global challenge." He added that Nebraskan officials expressed their appreciation for Kuwait's stance towards US and the coordination in food security and many other domains.
He affirmed Kuwait's keen interest in the food security, shedding light on Kuwait's Supreme National Committee to enhance the food and water security system that was created in May 2022 by Kuwait's Cabinet which is aimed at preventing any consequences from global crises that might affect the food security system. "This visit reflects Kuwait's desire to intensify and boost its cooperation globally as well as prepare itself in this field," Ambassador Al-Budaiwi said.
On his part, Governor Ricketts said, "Nebraskans are grateful for the strong friendship between the US and Kuwait. Kuwait is a key ally for our nation in the Middle East and an important trading partner for Nebraska," he added. He thanked Ambassador Al-Budaiwi for visiting Nebraska "to discuss opportunities to strengthen our ties with one another."
Furthermore, Congressman Bacon reiterated that "Kuwait is a strong ally of US and an important partner in combating international terrorism and strengthening international trade between our two countries. It is an honor to host our friends in the Heartland of America," he remarked. Also, Nebraska Department of Veterans' Affairs (NDVA) Director John Hilgert said "it was an honor to meet with Ambassador Al-Budaiwi alongside some of my fellow Gulf War veterans."
He added "hearing his perspective and the thanks he gave on behalf of the Kuwaiti people reiterated the importance and righteousness of Operations Desert Storm and Desert Shield and America's continued efforts to protect democracy around the globe." Meanwhile, Secretary Evnen said "it was a great honor and pleasure to welcome Ambassador Jasem Al-Budaiwi to Nebraska." "We found much of common interest for the mutual benefit of the people of Nebraska and the people of Kuwait," he added. He continued that Ambassador Al-Budaiwi "was warmly received by Nebraskans wherever he visited, and particularly so with our veterans of Desert Storm. We look forward to future follow-up in the many areas of mutual interest."
President and CEO of the National US-Arab Chamber of Commerce David Hamod said that is a "great opportunity" to introduce Kuwait's Ambassador to the heartland of America. "The middle west is distinguished by its productivity in agriculture, manufacturing, technology, and education, which makes this region a natural partner for the state of Kuwait," he added. He affirmed "our chamber is proud to help grow the relationship between the breadbasket of America and the State of Kuwait."
Food crisis to worsen
Meanwhile, World Bank on Wednesday said the shrinking value of currencies in developing economies would drive up food and fuel prices in ways that could worsen food insecurity in those countries. The prices of most commodities have declined from their recent peaks amid concerns of an impending global recession, while energy prices are expected to decline by 11 percent next year following the 60 percent increase triggered by the Russia-Ukraine conflict, according to the bank's Commodity Markets Outlook.
"Although many commodity prices have retreated from their peaks, they are still high compared to their average level over the past five years," said Pablo Saavedra, the bank's Vice President for Equitable Growth, Finance, and Institutions. He warned that a further spike in world food prices could "prolong the challenges of food insecurity across developing countries, saying that an array of policies is needed to foster supply, facilitate distribution, and support real incomes. Elevated commodity prices coupled with currency depreciations "translates into higher inflation in many countries," said Ayhan Kose, the Director of the bank's Prospects Group and EFI Chief Economist, which produces the outlook report.
He urged policymakers in developing and emerging economies to "carefully calibrate monetary and fiscal policies, clearly communicate their plans and get ready for a period of even higher volatility in global financial and commodity markets." Concerns about a possible global recession next year have already contributed to a sharp decline in copper and aluminum prices, which will likely remain volatile as the energy transition unfolds and demand shifts from fossil fuels to renewables, the report showed. - KUNA
