I am delighted to be able to invite you to join me on our multi sector trade delegation to Kuwait September 23 – 26, Kuwait is a country that I know well and have been involved with for many years.
Kuwait which has excellent relationships with the UK is one of the richest countries in the Gulf, and for many years has been a major investor in the UK and in view of today’s current economic and political climate when many markets are flat, Kuwait stands out as one of few Middle East countries that is successfully meeting the challenges of low oil prices by launching a multibillion dollar five year development plan ending March 2020 to diversify its economy in key sectors.
As a result of Kuwait’s strong fiscal position there are excellent opportunities in financial services across the board, the Kuwait market offers British Businesses and exporters excellent growth potential with genuine new blue chip opportunities for trade and investment, and I do urge you to join me on what will be a very exciting trade development visit.
Infrastructure investment projects are key, examples of Kuwait’s investment projects include the construction of thousands of housing units together with new fully equipped hospitals and schools. There are new plans for the development of the tourism sector, a new metro system, a railway network, numerous mega oil projects including a new refinery, and new developments in the petrochemical industries and ports.
To support Kuwait’s industry and the development of the local labour force, Kuwait is investing heavily in technical, vocational, education and training and those in this sector will also find Kuwait of interest, On the soft side Kuwait, which has one of the richest populations in the Gulf, is a developing market for media industries and the IT sector is a key new fast developing area. The retail sector is expanding and opportunities abound for high value good quality products as are the opportunities in the food and drink sector.
On agriculture Kuwait is looking towards the UK also and has recently purchased 30,000 tons of barley from us. Kuwait wishes to develop its fishing and fish farming industry as well as its agricultural industries for local consumption.
With such an ambitious plan for investment as you might expect there are real opportunities in all aspects of financial and legal services for British companies interested in developing the Kuwait market.
The current plan which ends March 2020 aims to catapult Kuwait as a regional trade and financial hub by 2035 and fortunately for the UK, British Business people are welcomed and very well thought of. Kuwait is also a natural and traditional hub for trade with Iraq where many Kuwaiti industries act as suppliers and contractors.
The 2020 plan aims to bolster Kuwait’s GDP increasing the private sector share of the economy from 26.4% to 41.9%, whilst increasing the numbers of Nationals working in the private sector.
There could not be a better time to visit Kuwait and develop trade and business links, this trade mission will be led by myself and will focus on establishing real relationships between delegates and Kuwaiti businesses. I encourage all colleagues to seriously consider joining me on this trade mission which is supported by the British Embassy in Kuwait, the Kuwait Embassy in London as well as the Kuwait British Chamber of Commerce in Kuwait.
Please do contact Lyndsay Snowden Pathfinder Trade Mission Manager for further information here……
With very best wishes