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Sunday , January 29 2023

Kuwait says Ukraine ripe ground for investment & boost in trade

This post has been read 7625 times!

‘Lack of direct flights major obstacle’

Kuwait trade team holds meeting with the Ukrainian delegation

KUWAIT CITY, Jan 21, (KUNA): Ukraine possesses “enticing” investment legislation, in addition to an alluring business environment, Kuwait’s Chamber of Commerce and Industry (KCCI) said on Tuesday.

Kuwait and Ukraine’s “evergrowing” cooperation encompasses numerous fields, including agriculture, information technology and industry, KCCI’s Deputy Chairman Abdulwahab Al-Wazzan said as he met with a Ukrainian trade delegation. Kuwait’s Chamber of Commerce encourages nationals to invest in the European nation, he said, while simultaneously urging Ukrainian firms to contribute towards Kuwait’s development plans. He went on to say that a “lack of direct flights between Kuwait and Ukraine” is the only impediment to bilateral trade growth, hoping the issue will be sorted out for the good of investors.

As “ripe ground” for foreign investment, Ukraine enjoys enduring and solid relations with Kuwait, according to the Oil Ministry’s Undersecretary Sheikh Nimr Al-Sabah. Kuwait wields much political and economic influence in the Middle East, said the chief of a joint Arab and Ukrainian business council, pointing out that the European nation is eager for better trade ties with Kuwait. Kuwait has established solid international relations thanks to the country’s diplomatic prowess, Dr Imad Abualrab told KUNA amid a visit to Kuwait’s Chamber of Commerce and Industry on Tuesday. Ukraine views Kuwait as a “launchpad” for a possible foray into business in the region, added the official, revealing that Kuwait was the first Arab nation to open an embassy in Ukraine. On Ukraine’s agriculture sector, he said that Kiev is the fourth largest exporter of corn and barley and the sixth largest exporter of wheat in the world. On the council’s primary objective, he said it serves as an advisory for foreign investors in Ukraine, apprising them of the ample business opportunities that await them.

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