ONA: The Oman-Kuwait Economic Forum is set to commence on Monday, December 23, 2024, in Kuwait, highlighting the economic and trade ties between the two countries.
The forum aims to strengthen economic and trade relations, focusing on opportunities for joint commercial and investment cooperation and increasing trade exchange.
The four-day forum, accompanied by an exhibition, is organised by the Oman Product Promotion Team (OPEX), which includes the Ministry of Commerce, Industry and Investment Promotion, the Oman Chamber of Commerce and Industry (OCCI), the Small and Medium Enterprises Development Authority (SMEDA), and the Public Establishment for Industrial Estates (Madayn). It is being held in collaboration with Kuwait's Ministry of Commerce and Industry and the Kuwait Chamber of Commerce and Industry.
Faisal bin Abdullah al Rawas, Chairman of Oman Chamber of Commerce and Industry (OCCI) and head of the OPEX team, stated that the forum aims to achieve the complementary goals outlined in the visions of both countries. It also seeks to foster new investment and trade partnerships between small and medium enterprises in both nations. He emphasised the importance of increasing trade exchange by promoting Omani products in the Kuwaiti market.
In an interview with Oman News Agency, Al Rawas noted that the private sectors of Oman and Kuwait are keen to leverage investment opportunities in promising sectors to expand and deepen bilateral cooperation and mutual investment, ultimately benefiting both nations.
He expressed hope that the forum and its accompanying exhibition will yield positive outcomes, strengthening economic relations, boosting investment opportunities and increasing trade and investment exchanges between Oman and Kuwait, thus enhancing their commercial and economic integration.
The event’s objectives include exchanging knowledge and expertise, building strategic partnerships between companies and entrepreneurs from both countries and exploring developments in export sectors. The forum also aims to establish new partnerships, highlight investment opportunities in Oman and work towards achieving the goals of Oman Vision 2040 and Kuwait Vision 2035. It will focus on activating executive programmes in agreements signed between the two countries.
The forum will feature three discussion sessions covering the manufacturing sector, supply chain integration, real estate and hospitality development, and food security.
Additionally, bilateral meetings will be held between Omani and Kuwaiti companies and business leaders to promote economic and trade cooperation, explore available opportunities and stay updated on developments in the manufacturing and food security sectors.
The accompanying exhibition will showcase 70 small and medium enterprises, including 50 Omani businesses representing various sectors such as food, crafts, technology and more.
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