Kuwait City: The first session of the Kuwaiti-Egyptian Joint Trade and Industry Committee convened on Sunday, with the primary aim of enhancing trade exchange between Kuwait and Egypt while addressing regional developments and challenges.
According to Kuwait News Agency, Kuwait's Undersecretary of the Ministry of Commerce and Industry, Zyad Al-Najem, emphasized the importance of translating commercial, industrial, and investment relations into tangible actions to achieve results. He stressed the necessity of expanding trade exchange between the two nations and reaffirmed the ministry's commitment to holding such meetings to strengthen trade, industry, and investment ties for the benefit of both countries.
The formation of the committee aligns with Article 8 of the 2014 Kuwaiti-Egyptian Trade and Industrial Cooperation Agreement, which mandates the establishment of a joint trade committee. This session follows up on discussions from the Joint Higher Committee meeting held in Egypt last September.
The committee is set to review key trade-related topics, with agreements reached during the discussions to be approved by Kuwaiti and Egyptian trade ministers in their ministerial-level meeting on Monday. The discussions will focus on aligning economic strategies with regional developments to bolster both economies.
Head of the Agreements and Foreign Trade Sector at the Egyptian Ministry of Industry and Trade, Amani Al-Wasal, underscored the importance of strengthening economic and trade ties between Egypt and Kuwait. She praised the historical relationship between the two nations and described the meeting as a pivotal step toward expanding cooperation in trade, industry, and investment. She added that Egypt is keen on broadening trade collaboration with Kuwait to achieve mutual interests and support economic integration between the two countries.
The committee aims to boost trade, cooperation, economy, food security, and agriculture, and promote continuous participation in exhibitions to showcase and market national products in both countries. Discussions will cover strategies for increasing industrial exports, developing standards and specifications, and exchanging business and investment opportunities between the respective chambers of commerce.