KUWAIT CITY, Feb 3: Swiss President Guy Parmelin affirmed that his visit to Kuwait is historic and momentous, especially since it coincides with the 60th anniversary of the establishment of diplomatic relations between the two countries and marks the first official visit by a Swiss president to Kuwait. In a press statement during an event organized by Ambassador of Switzerland to Kuwait Tiziano Balmelli on the sidelines of the Swiss President’s visit, Parmelin confirmed that he had positive and constructive meetings with His Highness the Amir Sheikh Meshal Al- Ahmad Al-Jaber Al-Sabah, His Highness the Crown Prince Sheikh Sabah Al-Khaled Al- Sabah and HH the Prime Minister Ahmad Abdullah Al-Ahmad Al-Sabah. He emphasized that these meetings proved the depth of friendly relations between the two countries and the mutual commitment to developing these relations.

He said Switzerland looks forward to strengthening economic and scientific cooperation with Kuwait in the coming period, pointing out that the fundamental elements are in place, including the free trade agreement with the Gulf Cooperation Council (GCC) countries, the agreement on the protection and promotion of investment, and the agreement on the avoidance of double taxation. He stressed that all the frameworks are ready, and work is ongoing to activate them. He explained that the current focus is on strengthening communication between the private sectors of both countries and connecting companies and industries more broadly. He stated that organizing the Swiss-Kuwaiti Business Day in Kuwait is considered a vital platform for supporting this direction, with the participation of new Swiss companies seeking to expand their operations in the Kuwaiti market

Swiss companies He added that the number of Swiss companies operating in Kuwait is witnessing continuous growth, and that the possibility of Kuwaiti participation in similar economic events to be held in Switzerland in the future is being explored. He emphasized that human and personal relations are at the heart of the Swiss-Kuwaiti relationship, pointing out that business leaders and entrepreneurs are the primary drivers of this partnership, which has spanned decades. Regarding agreements, he said there is no need to sign new agreements now, given the existence of a comprehensive legal framework. He stressed that the role of governments is limited to creating a suitable environment, while the investment decision rests with the private sector.

He also highlighted the importance of the memorandum of understanding with the Swiss Federal Institute of Technology, considering that linking the economy with scientific research contributes to the development of innovative ideas and joint projects. He also disclosed that the strategic dialogue between the GCC countries and Switzerland will be held in the near future, as per the agreements that are being implemented now. He confirmed that economic and investment agreements are available, both at the GCC level and specifically with Kuwait, including agreements on investment protection and the avoidance of double taxation. He added “the challenge today lies in encouraging the private sector to utilize these tools and actively pursue partnerships and joint ventures. This visit serves as a catalyst to the practical application of these agreements.” He stressed that the celebration of 60 years of diplomatic relations between the two countries is a manifestation of a mature and stable partnership, expressing his confidence that the future holds promising prospects for more cooperation and shared success. He said his visit to Kuwait aims to put weight on the existing frameworks and encourage companies to utilize them in order to strengthen the economic and investment partnership between the two countries.

By Fares Ghaleb Al-Seyassah/Arab Times Staff