Kuwaiti delegation advances economic cooperation with Japan 12/9/2009

The Kuwait delegation has actively engaged in advancing economic cooperation between Kuwait and Japan at the first Japan-Arab Economic Forum held in Toky. The Kuwaiti representatives led by Ambassador Sheikh Ali Khaled Al-Jaber Al-Sabah, who serves as Director of Foreign Ministry's Economic Department, paid an effort to facilitate the entry of Kuwaiti companies and businessmen into the Japanese market, and to provide the clear picture of Japanese investors with Kuwait's investment climate. The delegation was also accompanied by Charge d'affaires at the Kuwaiti Embassy in Japan Mohamed Al-Mutairi.
In his speech at the two-day forum, Sheikh Ali announced the initiative of H.H.the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah to establish a support fund for small and medium-sized companies in the 22-member League of Arab States. The initiative of H.H.the Amir to establish a support fund, with a capital estimated at USD 2 billion, to which Kuwait will contribute USD 500 million, for small and medium-sized companies in the League of Arab States member states was commended during the ministerial meeting of the forum.
Sheikh Ali also noted at the forum that such measures will help improve the investment climate and infrastructure development in the Arab countries and enhance their chances of integration into the global economy. In the working-level meetings, Nawal Al Fuzaia, Assistant undersecretary for economic affairs at the Oil Ministry, Dr. Adel Al Yousifi, Board Member of Chamber of Commerce and Industry, Wael Al-Sagar, Co-Chairman of Kuwaiti-Japanese Businessmens Committee and Abdul-Aziz Salem Al-Badr, Director of General Commission of Investment called on both bilateral and regional cooperation with Japan in a wide range of fields, such as energy, environment, investment, tourism, education, human resource development and promotion of employment in small and medium-sized companies. In collaboration with Third Secretary at the Embassy Faraj Al-Hajri who speaks fluent Japanese, the Kuwaiti team also focused on seminars about cooperation in the fields of sustainable development, water business, science and technology, and actively involved in promoting cooperation in trade and investment.
The economic forum was established by the Japanese government and the Arab League, in cooperation with Japan Cooperation Center for the Middle East and Japan Business Federation, to advance the construction of mutual multi-layered relations in various fields, including trade, investment, energy, environment, scientific and technological research, and the development of human resources. The second Japan-Arab Economic Forum will be hosted by Tunisia in 2010. The trade volume between Japan and Arab states hit USD 184 billion in 2008, compared with USD 48 billion in 2003.