KSA, Kuwait Issue Joint Statement on Saudi-Kuwaiti Discussions
A new joint statement on Saudi-Kuwaiti discussions was issued following new Kuwaiti Emir Sheikh Meshal Al-Ahmad Al-Sabah’s first foreign trip to Saudi on Tuesday, reported Saudi Press agency.
The statement started by highlighting the discussions between Saudi Crown Prince and Prime minister Mohammed bin Salman and the new Kuwaiti Emir. During the discussions, they reviewed the relations between the two countries and ways to improve them in various fields.
Kuwait’s Emir expressed his congratulations on Saudi Arabia winning the bid to host Expo 2030.
Economy, Investment, Trade
The two countries hailed the growth of trade and bilateral investments, as trade between KSA and Kuwait reached SAR 11 billion in 2022. By July, 2023, trade grew more than SAR 6 billion.
They agreed to increase the facilities that would enable Saudi investments in Kuwait in number of sectors including industry, communications and logistics.
Saudi Arabia welcomed the expansion of Kuwaiti investments and business in the Kingdom to benefit from opportunities in colossal projects.
The two Gulf countries welcomed signing a MoU in cybersecurity and affirmed the importance of fostering cooperation in this field.
Furthermore, they praised the railway project connecting the two countries, boosting trade and economic growth.
Energy Sector
The joint statement on Saudi-Kuwaiti discussions stated that the two countries hailed OPEC+ successful efforts in enhancing the stability of the global oil markets.
They affirmed the necessity for all countries participating in OPEC+ to commit to what serves the interests of both producers and consumers and boosts economic growth.
Concerning their future energy plans, KSA and Kuwait agreed to increase cooperation in sectors of oil, gas and clean technologies of hydrocarbon resources. Moreover, they agreed to develop energy-related projects.
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