KUWAIT CITY, Nov 4: The Kuwait Chamber of Commerce and Industry (KCCI) on Tuesday highlighted the importance of reinforcing partnerships between the Kuwaiti private sector and German companies, stressing that joint cooperation can transform opportunities into sustainable growth and innovation, benefiting both nations.

KCCI Assistant Director General Emad Al-Zaid made the remarks during a meeting with a German trade and economic delegation, noting that the visit reflects the strength of Kuwaiti-German relations and the potential for collaboration in the technology and energy sectors.

Al-Zaid added that Kuwait is advancing toward an integrated digital economy across data, energy, and healthcare sectors, while the private sector increasingly adopts modern technologies to boost productivity and value creation. He noted that Kuwait’s information and communications technology (ICT) market reached USD 22.5 billion in 2023 and is projected to approach USD 40 billion by 2028, fueled by investments in artificial intelligence and data technologies in education, finance, energy, and healthcare.

Abdulaziz Al-Makhlafi, Secretary General of the Arab-German Chamber of Commerce and Industry, emphasized the depth of economic relations between Kuwait and Germany and the importance of expanding cooperation in technology, energy, and digital transformation.

Al-Makhlafi said the German delegation’s visit is part of a short economic mission, including meetings with local institutions and participation in the GCC Business Forum hosted by Kuwait. He highlighted the long-standing ties between the Arab-German Chamber and KCCI, noting that Kuwait is a key partner for the German economy, with bilateral trade reaching about USD 1.5 billion annually, primarily German exports to Kuwait.

He added that Kuwaiti investments in Germany are estimated at around €40 billion, ranking among the largest and oldest Arab investments in the German economy, spanning major companies and numerous medium-sized enterprises across multiple sectors.

Assistant Director General of the Kuwait Chamber of Commerce and Industry, Emad Al-Zaid

The Kuwaiti side during the meeting

Trade and economic delegation from the Federal Republic of Germany