Kuwait interested in Indian petrochemical industry
Kuwait-India, Economics, 6/15/2006

Kuwait is interested in enhancing the bilateral trade with India and investing in major sectors including petrochemicals and others in the near future, Kuwaiti Chamber of Commerce and Industry (KCCI) First Vice Chairman Hilal Meshari al-Mutairi said.

India will go in for building real-estate, infrastructure and construction sectors in Kuwait.

This was revealed during an interactive meeting of Kuwaiti businessmen delegation under Mutairi with Federation of Indian Chamber of Commerce and Industry (FICCI) in New Delhi.

"Indo-Kuwaiti business cooperation has a huge scope for enlargement through diversification of the trade, joint ventures and industrial tie-ups as the bilateral trade between the two states has currently reached 700 million dollars," Mutairi said.

"Pushing the economic agenda by both the countries at global level is a matter of priority," Ministry of Commerce and Industry Director R M Mishra said. In this direction, Free Trade Agreement (FTA) is to be signed between the two states in the near future, he said.

ESSAR Group, Director (Oil & Gas) S Mathur opined that the bilateral ties are being steadily expanding and can further be strengthened by continuous interactions and cooperation, including regular exchange of delegations.

With the help of the KCCI, FICCI can further enhance the trade and investment relations between the public and private sectors of both countries, he added.

Other official business delegation members from Kuwait favoured that FICCI and KCCI can further concentrate on sectors including oil & gas, energy, construction (real estate, IT parks, SEZs), steel, fertilizers, food processing, tourism, training and education and healthcare for mutual benefit.

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