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Chinese projects in Kuwait hit 84

KUWAIT: China’s Ambassador in Kuwait Wang-Di said yesterday that the number of projects executed by Chinese companies in Kuwait till the first half of this year has reached 84 – and worth $18.12 billion. In an interview to KUNA ahead of Vice Premier of the State Council of the People’s Republic of China Zhang Gaoli’s visit to Kuwait today, the ambassador said the projects include the sectors of oil, housing and infrastructure, and the value of the contracts concluded in the first half of this year was $2.22 billion. China is Kuwait’s key trade partner in non-oil fields, he said, adding that two-way trade exchange amounted to $9.5 billion in 2016.

He pointed to both sides’ willingness to upgrade the level of cooperation in financial, investment and communication areas. The Chinese diplomat noted that Kuwait was the first country to sign a document of cooperation with China for participation in the Belt and Road Initiative. He hailed His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah’s initiative to transform Kuwait into a regional financial and trade hub as being in harmony with the Chinese Belt and Road Initiative in a strategic manner.

Wang reiterated Chinese companies’ eagerness to join Kuwaiti mega projects and to continue promoting cooperation with Kuwait in housing and development domains. On Zhang Gaoli’s visit to Kuwait on Monday, the Chinese ambassador said it comes at the invitation of First Deputy Prime Minister and Foreign Minister Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah. During his stay here, the Chinese official will meet with a number of Kuwaiti officials for promoting and consolidating bilateral cooperation between both friendly nations, he said. – KUNA

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