Global Arab Network | Saudi Arabia, Kuwait witnessing strong economic relations

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Saudi Arabia, Kuwait witnessing strong economic relations

Global Arab Network - - Rabih Serrai

Tuesday, 01 February 2011 03:31

Kuwait_and_Saudi_Arabia_witnessing_strong_economic_relations

Saudi (JEDDAH) - Board Chairman of the Chamber of Commerce and Industry and Chairman of the Jeddah Chamber, Sheikh Saleh Kamel praised on Monday the strong relations between Kuwait and Saudi Arabia, witnessing continuous development in various fields of economy, trade and investment.

Sheikh Kamel said in an interview KUNA, on the occasion of Kuwait's 50th Independence Day and 20th Liberation Day, and 5th anniversary of His Highness the Amir Sheikh Sabah Al Ahmad Al Jaber Al Sabah's assumption of power, that relations between the two leaderships and people are unique.

He attributed excellent relations between the two states to deep rooted historical ties and the wisdom of both leaderships, as they role under the umbrella of Islamic principles and values, in addition to working towards strengthening bilateral relations.

He also recalled Saudi's honorable stand during the war to liberate Kuwait from the Iraqi regime.

Kamel explained that the economic factor in both countries is linked to oil policies, as both are members of the Organization of the Petroleum Exporting Countries, and the Organization of Arab Petroleum Exporting Countries (OAPEC), which requires both coordination and consultation.

He noted that Saudi-Kuwaiti relations managed to develop despite events in the region, in various fields, resulting with the establishment of the Gulf Cooperation Council, which has achieved a lot of aspirations that are compatible with the hopes and aspirations of the people in the Gulf".

Saudi and Kuwait signed within the framework of the GCC several economic agreements, which characterized relations during the period since the early eighties to this day.

Kamel unveiled his country's plans to establish a Saudi-Kuwaiti businessmen council, as ways to encourage businessmen of both countries to invest, particularly in the industrial sector.

He noted that there are open opportunities for Kuwaiti businessmen to invest in Saudi Arabia, which has a large market for Kuwaiti non-oil exports, positively reflected on the nature of the economic relationship between the two countries.
(KUNA)

Global Arab Network

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