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Thursday , August 22 2019

‘Kuwait keen on developing economic ties with Russia’

Russian President Vladimir Putin makes an address during a meeting in the Russian Defense Ministry’s headquarters in Moscow, Russia on Dec 18. Putin said that new Russian weapons have no foreign equivalents, helping ensure the nation’s security for decades to come. (AP)

KUWAIT CITY, Dec 18, (KUNA): Kuwait is keen on developing economic relations with Russia, said Ali Al-Ghanim, President of the Chamber of Commerce and Industry (KCCI) on Tuesday. Urging the promotion of cooperation levels, chiefl y economic one, Al-Ghanim in a press release, called for furthering visits between the two sides in order to be acquainted with investment opportunities in both friendly countries. Al-Ghanim’s statement came on the sideline of receiving President of the Moscow Chamber of Commerce and Industry Vladimir Platonov, who was accompanied by Ambassador to Kuwait Nikolay Makarov.

On his part, Platonov lauded Kuwait’s progress in terms of infrastructure within its ongoing endeavor of transforming into a regional and international commercial hub. Russia is very interested in buttressing economic ties with Kuwait, he said, shedding light on major industries Kuwaiti investors could engage in like the car-making industry, which according to Platonov made a USD-100-million profit this year. He pointed to manufacturing modern medical supplies and heavy machinery.

Some 26 percent of Moscow’s GDP is backed by medium and small enterprises and it is hoped for joint Kuwaiti-Russian ventures to contribute to it in the future, he said. Echoing earlier stances, Kuwait underscored on Tuesday that it is categorically opposed to any action or bid that could undermine the legal status of the occupied Palestinian holy city of Jerusalem.

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