Abu Dhabi, 15 February 2023 (GNP):Pakistan and Kuwait have decided to strengthen their economic connections in important areas, especially in the commerce and energy sectors.
The agreement was reached on Tuesday during a meeting between Prof. Ahsan Iqbal, Federal Minister for Planning, Development, and Special Initiatives, and Abdul Wahab Al-Rasheed, Kuwait’s Minister of Finance in Abu Dhabi.
It should be noted that the Planning Minister is representing Pakistan at the conference on “Effective Nuclear and Radiation Regulatory Systems: Preparing for the Future in Rapidly Changing Environment,” which is being held in Abu Dhabi from February 13 to 16 and is being hosted by the Federal Authority for Nuclear Regulation (FANR) of the United Arab Emirates. They are joined by Minister of State for Petroleum Mosadiq Malik.
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While the two nations have a solid connection, according to Ahsan Iqbal, who noted that they have decided to increase economic cooperation in areas of shared interest, including trade and investment, notably in the energy industry.
Planning Minister Pakistan Prof. Ahsan Iqbal and Minister Finance, Kuwait Mr. Abdul Wahab Al-Rasheed discussed economic cooperation, trade, and investment opportunities between the countries in a meeting held in Dubai in the side lines of World Government Summit. pic.twitter.com/s7JEWGtfDy
— M/o Planning Development & Special Initiatives (@PlanComPakistan) February 14, 2023
They also talked about improving Pakistani goods and labor force access to the Kuwaiti market.
Opportunities provided by the China-Pakistan Economic Corridor (CPEC) were also discussed during the conference, particularly Pakistan’s success in revitalizing the energy industry over the last ten years.
Abdul Wahab Al-Rasheed, Kuwait’s minister of finance, recognized the contribution Pakistani workers had made to Kuwait’s growth as well as the close relations that existed between the two countries on a cultural, religious, and economic level.
He concurred that there is significant space to increase the level of economic cooperation between the two nations and suggested holding follow-up meetings to put the meeting’s suggestions into action.
By taking advantage of the potential that both markets have offered, it is envisaged that the meeting will aid in extending the scope of Pak-Kuwait relations.
