Kuwait-India Non-Oil Trade Surpassed USD 2 Bln In '22 - Chamber
(MENAFN- Kuwait News Agency (KUNA))
KUWAIT, Sept 9 (KUNA) -- The Kuwait Chamber of Commerce and industry (KCCI) reaffirmed on Monday deep-rooted economic relationship with India, noting that non-oil trade between the two countries exceeded USD 2 billion in 2022.
A KCCI press release said this came during a meeting with an Indian economic delegation, headed by Israr Ahmad, President of the Federation of Indian Exports Organization (FIEO) and representatives from 30 Indian companies in food and Agriculture sectors.
The meeting was attended by Indian Ambassador to Kuwait, Dr. Adarsh Swaika, along with representatives from Kuwaiti companies and the Public Authority for Food and Nutrition.
The Chamber emphasized that the relationship between Kuwait and India goes beyond mere business partnerships due to the historical bilateral relations.
In the statement, the Chamber highlighted the importance of food security and the role of Kuwaiti companies in contributing to this sector.
It stressed the need to encourage these companies by providing suitable investment opportunities, which would help bolster Kuwait's food security framework.
On his part, Israr Ahmad highlighted Kuwait's importance as a key trade partner for India, stating that hard work with the Indian government to create a favorable environment for business and effective partnerships has contributed to a 7-percent growth in trade between the two countries in 2023.
Indian Ambassador Dr. Adarsh Swaika expressed pleasure with the presence of the Indian delegation in Kuwait, reflecting the mutual interest in enhancing existing bilateral relations. He added that the leadership of both countries encourages further development of their historic and strategic ties.
Swaika extended an invitation to Kuwaiti businesspeople to visit India and explore available investment opportunities.
During the visit, an exhibition of Indian products was inaugurated at the Chamber's headquarters. The two-day event aims to showcase a wide range of Indian products and provide a platform for partnerships, particularly in the food and agriculture sectors. (end)
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