Kuwait City: Relations between Kuwait and Spain were formed on a bedrock of joint interests and common visions towards prosperity and sustainable development, a finance ministry official said on Tuesday. Bilateral cooperation has been on an upward trajectory and encompasses various fields ranging from the economy and finance to trade and investment, Kuwaiti Finance Ministry Undersecretary Aseel Al-Munaifi told KUNA on the sidelines of joint Kuwaiti and Spanish committee talks to discuss these relations.
According to Kuwait News Agency, these ties have allowed Kuwait to get acquainted with Spanish experiences on economic diversification efforts, a matter that has grown in significance on a national level, the official underlined, citing Kuwait’s geographical location as a catalyst towards luring greater Spanish investments. On the purpose of the joint committee, the Kuwaiti finance ministry undersecretary said that the group was formed with an “earnest desire” to propel bilateral ties to loftier levels, while emphasis will be placed on sectors of common concern, said the official.
Addressing the gathering, Spanish state secretary for trade Amparo L³pez Senovilla said that the talks represent a “viable opportunity” to look into matters of mutual concern, in addition to any existential obstacles that could encumber the progress of bilateral investment. Another objective of the joint committee is to ratchet up dialogue as part of efforts to further bolster relations, hailing the group as having been instrumental in ushering “tangible growth” in relations between Kuwait and Madrid, added the official.
The Spanish official also led a high-level trade delegation during separate talks with Kuwait’s Chamber of Commerce and Industry, in which opportunities for joint investment was the core matter discussed, according to a statement by the Kuwaiti business group. Spanish-based firms have forayed successfully into the Kuwaiti market, where they are active in key road infrastructure projects, said the statement, emphasizing that Kuwait is increasingly turning to Madrid as a trusted partner in national efforts to forge a multi-faceted economy.