Increased economic ties sought between Egypt and Kuwait
Kuwait is looking to increase economic ties with Egypt, according to Kuwait Times daily. Salah Khurshid, Kuwait’s Minister of Commerce and Industry, stated that not only would boosted trade benefit both Egypt and Kuwait, but inter-Arab relations would reap the rewards of such cooperation as well.
Khurshid made this remark at a recent meeting attended by Chairman of Egypt’s Investment Authority Mohammad Al-Ghamrawi and Finance and Foreign Trade Minister Yusuf Butrus Ghali.
At the meeting, the establishment of joint committees to oversee investments and the promotion of trade fairs were suggested as promising means of boosting exchanges. Recent Egyptian trade shows hosted by Kuwait resulted in an estimated $50 million in contracts, according to Khurshid.
Furthermore, the nations’ geographic locations were also discussed as a significant factor in future economic exchanges. Egypt would be able to facilitate Kuwaiti trade in the western regions of the Middle East, while Kuwait’s proximity to Asia offers a strategic advantage for Egyptian trade. — (MENA Report)
© 2001 Mena Report (www.menareport.com)