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Kuwait Chamber of Commerce and Industry (KCCI) to Boost Trade Relations Between Kuwait and Germany

H.E. Amb. Najeeb Al-Bader reiterates Kuwait’s keenness to establish closer trade relations with Germany following 22nd Arab-German Economic Forum

August 20th, 2019
Christina Vassell, News from Berlin
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H.E. Amb. Najib Al-Bader has praised the activities of the Kuwait Chamber of Commerce and Industry (KCCI) to boost trade relations between Kuwait and Germany following 22nd Arab-German Forum held in July 2019.

In a statement to KUNA, H.E. Amb. Najib Al-Bader has said that Germany provides a suitable and stable environment for economic work, stressing Kuwait's keenness to transfer the prospects of joint cooperation to renewed frameworks, as Kuwait comes at the forefront of investing countries in the German market.

Kuwait has invested heavily in German markets in an effort to bring its 2035 national development plan to fruition, he explained, saying the talks allow Arab nations the opportunity to rejuvenate trade relations with Berlin.

The Chairman of Kuwait Chamber of Commerce and Industry (KCCI), Ali Mohammed Thunayan Al-Ghanim also praised the objectives of the forum and the German Arab Chamber of Industry and Commerce (GACIC), which is exerting all efforts to develop the joint economic work environment between Arab countries and Germany, which has the largest European economy.

In a statement to KUNA, Al-Ghanim said that GACIC is one of the most prominent chambers of commerce between Arab countries and foreign countries. He also praised the Kuwaiti participation in the forum, saying that this participation comes in support of the huge Kuwaiti investments in Germany, as Kuwait is considered to be the first Arab country to invest in the stable German market.

The Kuwaiti private sector has invested up to 12 billion euros in the German market, he said, stressing that the private sector and the Kuwaiti government are among the largest Arab investors in the German market.

In a statement, the head of of the Arab-German Chamber of Commerce and Industry, Peter Ramsauer, said that the German and Arab participation in this year's forum was a sign of the great mutual interest between Germany and the Arab countries.

He stressed that the German economy is very interested in the promising Arab economy.

In his remarks, Secretary General of the Arab-German Chamber of Commerce and Industry Abdulaziz Al-Makhlafi praised the growth of the German-Arab economic and trade relations in the past decades, saying that these relations can be further developed and improved in the coming years.

The annual trade volume between the Arab countries and Germany worth 50 billion euros, he said, adding that the volume of Arab investments in the German market is about 100 billion euros.

He also stressed that the German side is very interested in developing economic relations with the Arab countries, which reflected in the German distinguished participation in the 22nd Arab-German Economic Forum.

References

News from Berlin