On February 5, during his official visit to the State of Kuwait, the President of the Moscow Chamber of Commerce and Industry, Mr. Vladimir Platonov, held a number of official meetings, aimed at developing economic cooperation between Russia and Kuwait.
During the official meeting of the the MCCI’s President (who also represented the entire system of Russian Chambers of Commerce and Industry) with the Deputy Minister of Foreign Affairs of Kuwait, Mr. Mansour Ayad Al-Otaibi, discussed were the directions of bilateral cooperation between the two auspicious countries and ways of its development, with the emphasis on commerce and economy.
Later, Mr. Platonov paid a visit to the Chamber of Commerce and Industry of Kuwait, where, at a meeting with the Vice President of the Chamber Fahd Yacoub Youssef Al-Jouan and the Chamber leadership, the prospects of enhancing relations between the business communities of Moscow and Kuwait were reviewed. The President of the MCCI noted that today, Moscow entrepreneurs pay special attention to the development of relations with their business colleagues from the countries of Persian Gulf, Middle East and Maghreb.
Colleagues from the Kuwait Chamber of Commerce and Industry were interested in the existing protection and support measures for foreign investment in Moscow, the mechanisms of incentives for investors by the state, analogous with the Kuwaiti direct investment agency.
The importance of bilateral contacts was noted; highlighted was the opening of direct air service by Jazeera Airways between Moscow and Kuwait stating in February, 2023. Practice shows that the launch of direct air service in the first 3 years increases trade turnover by at least 20%.
Particular interest of the colleagues from the Kuwait Chamber was caused by descriptions of business proposals from a number of Moscow companies. The Head of the MCCI suggested paying special attention to the promotion of environmentally friendly products from Russia, which are in high demand in neighbouring countries. The parties also noted the importance of technology transfer in the field of water and wastewater treatment, enhanced oil recovery, etc.
Mr. Platonov invited colleagues from Kuwait to visit Moscow, saying that Moscow Chamber of Commerce and Industry will support any business endeavours of KCCI members in Moscow. In response, there was an invitation for entrepreneurs from the Russian capital to visit Kuwait with business missions, organize an exhibition of brands and products of Moscow origin for agricultural and food industries with the aim of introducing Moscow brands to the supermarket shelves of Kuwait.