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Wednesday, December 11, 2024
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Omani-Kuwaiti trade exchange up from 282m to 877m OMR in 2023

Omani Cultural Week in Kuwait to run until Sept 5

publish time

03/09/2024

publish time

03/09/2024

Omani-Kuwaiti trade exchange up from 282m to 877m OMR in 2023
Omani Ambassador to Kuwait Dr. Saleh Al-Kharousi during the press conference

KUWAIT CITY, Sept 3: Omani Ambassador to Kuwait Dr. Saleh Al-Kharousi confirmed that the volume of trade exchange between Oman and Kuwait increased from 282 million Omani rials in 2022 to 877 million Omani rials in 2023; while the volume of trade exchange in January and February 2024 reached 400 million rials, reports Al- Seyassah daily. Al-Kharousi made the statement in a press conference held Monday to announce the launching of the Omani Cultural Week in Kuwait through the coordinated efforts of the Omani Embassy and the National Council for Culture, Arts and Letters (NCCAL); which will continue until Sept 5. He added the direct Kuwaiti investment in the Sultanate of Oman also increased from 797 million Omani rials in 2022 to 831 million rials in 2023; stating that most of the investments are in manufacturing, real estate, hotels, restaurants, trade, and financial brokerage.

On the Kuwaiti-Omani relations, he said: We focus on cultural relations for several reasons, one of which is the advanced cultural relationship between the two countries; in addition to the active cultural institutions in both countries – whether in the government sector or the private sector. There have been joint programs between Omani and Kuwaiti cultural institutions for a long time, he affirmed. Talking about the most important developments in Omani-Kuwaiti relations, he disclosed the relationship is so far known for the distinguished level it has reached. “This year, we witnessed two visits -- the visit of His Highness the Amir Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah to Oman in February when he witnessed the opening of Duqm Refinery. The refinery is considered one of the largest cooperation projects in the energy sector between the two members of the Gulf Cooperation Council (GCC) with an estimated cost of $9 billion, he revealed.

He added Sultan Haitham bin Tariq visited Kuwait in May when the two leaders had high-level talks. He affirmed there have been directives to strengthen this relationship for the benefit of the two countries and the region. He said the Sultan visited the Salaam Palace Museum as well; where he expressed his admiration for its contents, the cultural vocabulary it added to the history of Kuwait and its cultural importance. He stressed that the title of the next stage is ‘economic cooperation’; stating “The economy in general drives the locomotive of relations.

However, political and diplomatic coordination is taken for granted, especially between the Sultanate of Oman and Kuwait. Therefore, the two countries are keen on engaging in an economic activity that will be beneficial for their citizens. We are now in the implementation stages of the railways between the United Arab Emirates (UAE) and Oman, as well as between Saudi Arabia and Kuwait. This is part of the railway link between the GCC countries in general, aimed at accelerating the pace of product exchange in the region and to enhance their access to other markets.” On the tourism sector, he revealed: “I am waiting for the results of the tourism promotion held earlier. Initial results indicate an increase. In mid-August, the number of tourists reached 816,000 and the number is expected to exceed one million by the end of this month as per the plan of the Ministry of Tourism in the Sultanate of Oman. I believe the figure for Kuwait was 40,000. The number of flights increased in the past period and this is only for Dhofar Governorate.” Regarding private sector investments in the two countries; he disclosed there are around 200 to 300 Omani and Kuwaiti companies, some of which operate in various fields like energy and oil. There is a demand for Omani products.”

On the cultural forum, he cited multiple activities like cultural evening, poetry evening, lectures, musical evening, and book fair. He went on to say that the Omani Cultural Week opens Tuesday (today) with an exhibition of joint publications by the NCCAL and the Embassy of Oman. “The participants include members of the Omani Writers Association with its president in attendance. After the opening, prominent Omani musicians Maryam Al-Manji and Yaqoub Al-Asimi will have a concert; followed by a symposium on Omani-Kuwaiti relations. Dr. Mohsen Al-Kindi, an academic and cultural history researcher who won the first Sultan Qaboos Award for Culture, Science, and Literature in 2012 and the first Cultural Personality of the Year Award in 2021 will be a speaker at the symposium. He conducted research and wrote books on literature, criticism, and Omani cultural history,” he added.