The UK and Kuwaiti Governments have agreed to double bilateral trade and investment between the two countries to £4 billion by the year 2015.
The agreement, announced during the Prime Minister’s visit to Kuwait, will lead to a task force being set up, chaired by ministers.
Speaking in Kuwait City, the Prime Minister said: “This is an important agreement that will pave the way for increased trade and investment between our two countries.
“Kuwait has an ambitious £90 billion development plan which involves more than 1,000 projects covering infrastructure, healthcare, housing and education. I want UK companies to be key partners on these projects that will bring jobs and growth to the British economy.”
Trade and Investment Minister Lord Green added: “The new UK-Kuwait Trade and Investment Taskforce will create an important forum for both sides to identify new opportunities for partnership across a range of sectors and improve the business environment by tackling market access issues.”
Kuwait is currently the UK’s fourth-largest trading partner in the Gulf, buying over £1 billion worth of exports a year.
Its four-year development plan includes a £4.6 billion metro system.
UK Trade & Investment said it had identified opportunities in infrastructure, particularly ports, airports and railways, as well as social infrastructure, including healthcare and education, and the energy sector.
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