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Doha Bank: Qatar, Kuwait Boosting Trade Relations

Global Arab Network - - Gamal Ragay

Thursday, 23 December 2010 12:40

Doha Bank, one of the leading banks in the banking industry in Qatar and one of the Qatari banking institutions operating in Kuwait, recently organised a seminar entitled ‘Strengthening International Mutual Trade’ during which a number of economists along with the bank officials have discussed the importance of enhancing international and regional mutual trade with the State of Kuwait in the future in order to boost the global economy, Global Arab Network reports according to Gulf Today.

On the sidelines of the seminar lectured by Rashid Al-Tabtabai, the Undersecretary of the Ministry of Trade and Industry, R. Seetharaman, the Chief Executive Officer of Doha Bank Group and Chris Fellner, Head of International Banking Department in Doha Bank, the most important positives of supporting trade relations between the world economies and in particular the GCC region were reviewed.

In a presentation during the seminar, Chris Fellner, Head of International Banking Department in Doha Bank, has revealed the size of the surge witnessed by the global trade rates over the past four years, noting that since 2005 until 2009, the rate was up by about 54%.

Fellner added that international trade in terms of exports and imports to and from Kuwait has witnessed significant momentum during the same period, where exports rose from KWD 6.1 billions to KWD 14.4 billions (about 55%), while imports increased from KWD 3.2 billions to KWD 5.1 billions.

During his presentation, Fellner spoke about the most important factors that must be addressed when talking about promoting trade exchange, pointing to international laws, the nature of governmental departments, strategies, as well as tariff, fees, etc.

Rashid Al-Tabtabai, the Undersecretary of the Ministry of Trade and Industry, has revealed the Kuwaiti plan pertaining to reviewing the trade policy that is intended to be initiated in December 2011, which will help to strengthen its position among the countries acceding to World Trade Organisation. (Gulf Today)

Global Arab Network

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