Ukraine’s MFA suggests organizing business mission of Kuwaiti companies

Ukraine’s MFA suggests organizing business mission of Kuwaiti companies

Ukrinform
Ukraine and Kuwait have significant potential to increase trade and cooperation in attracting investment.

This was discussed at the meetings of Deputy Minister of Foreign Affairs of Ukraine Dmytro Senik with Chairman of Kuwait Chamber of Commerce Mohammed Al-Sager, Chairman of the Union of Investment Companies in Kuwait Saleh Al-Selmi, and investment adviser to the Kuwaiti Investment Authority Yusef Al-Maskur, Ukrinform reports with reference to the Ministry of Foreign Affairs of Ukraine.

"Ukraine and Kuwait have significant potential to boost trade and implement joint investment projects in the oil and gas sector, aviation, heavy industry, shipbuilding and information technology. We are ready to intensify our cooperation both at the state and the business level," the deputy minister stressed.

He suggested organizing a business mission of Kuwaiti companies to Ukraine in order to get acquainted with the country’s investment opportunities.

It is noted that Senik and Al-Sager paid special attention to the development of cooperation between the Exporters and Investors Council (EIC) under the Ministry of Foreign Affairs of Ukraine and the Kuwait Chamber of Commerce and Industry. According to the Ukrainian diplomat, conferences on trade peculiarities, which have been repeatedly held by the EIC and the Kuwait Chamber of Commerce and Industry have proven to be an effective tool for reviving business ties and expanding the range of goods.

As reported, on March 14, 2021, the Exporters and Investors Council under the Ministry of Foreign Affairs of Ukraine and the Kuwait Chamber of Commerce and Industry signed a memorandum of understanding. Since then, five online conferences on various aspects of trade relations between Ukraine and Kuwait have been organized jointly with the Kuwait Chamber of Commerce and Industry with more than 400 business representatives.

In January-July 2021, Ukraine–Kuwait trade in goods amounted to $17.47 million. Exports of goods totaled $16.62 million, imports – $0.85 million. The balance of trade in goods is positive for Ukraine and amounts to $15.77 million.

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