Latest news with #Kuwaiti-Spanish
Arab Times
21-05-2025
- Business
- Arab Times
Kuwait-Spain talks focus on economic growth
KUWAIT CITY, May 21: Kuwait Chamber of Commerce and Industry (KCCI) on Tuesday welcomed a highlevel trade delegation from Spain, led by Spanish Secretary for Trade Amparo López Senovilla. Spanish Ambassador to Kuwait Manuel Hernández Gamayo, Undersecretary of the Kuwaiti Ministry of Finance Aseel Al-Munifi and several business leaders in Kuwait and Spain also attended the meeting. At the beginning of the meeting, KCCI expressed appreciation for the visiting delegation; stressing the importance of the visit as part of the Kuwaiti-Spanish Joint Economic Committee meetings. The event marks a continuation of the collaborative efforts to deepen economic ties and explore new avenues of partnership between the two friendly nations. KCCI affirmed the strong and longstanding economic relationship between Kuwait and Spain, indicating that Spain is among Kuwait's major trading partners in the European Union (EU). It added that bilateral trade recently surpassed $1 billion, a testament to the growing commercial exchange between the two countries. Spanish exports to Kuwait include machinery, industrial equipment, ceramics, chemical products, and internationally renowned fashion brands. Recently, the sports sector emerged as a new area of exchange, particularly with the expansion of the Rafael Nadal Tennis Academy to Kuwait -- its first branch outside of Spain. On the investment front, Kuwait's ventures in Spain demonstrate high confidence in Spanish sectors; such as finance, tourism and energy. Spanish engineering firms have also played a critical role in major infrastructure projects in Kuwait, including the Gamal Abdel Nasser Highway and Kuwait International Airport expansion. KCCI emphasized that these achievements reflect mutual trust and serve as a foundation for even greater cooperation. With Kuwait actively pursuing economic diversification and Spain expanding its global reach, the visit offers a strategic opportunity to enhance collaboration in sectors like energy transition, innovation, tourism and logistics. It reiterated its readiness to serve as the main facilitator for these efforts by promoting dialogue, eliminating barriers, and supporting partnerships that generate long-term economic value. Meanwhile, Al-Munifi urged investors from both countries to build joint ventures in a wide range of sectors; including transportation, construction, healthcare and technology. She pointed out the active presence of Spanish companies in Kuwait and confirmed the commitment of the Finance Ministry to support them and address any challenges they might face. Senovilla commended the excellent bilateral relations, emphasizing Spain's strategic geographic position as a gateway to European markets. She called for further trade cooperation; particularly in the fields of healthcare, building materials, transportation and education. Gamayo echoed these sentiments, praising the historical friendship between the two countries and reaffirming Spain's commitment to advancing bilateral relations. Jaime Montalvo, Director of International Affairs at the Spanish Chamber of Commerce, affirmed the role of the Joint Economic Committee in fostering deeper collaboration. He said Spain is focusing on the development of small and medium enterprises (SMEs) as a vital area for joint growth.
Kuwait Times
20-05-2025
- Business
- Kuwait Times
Kuwait, Spain deepen economic cooperation amid growing ties
Joint committee meeting underscores various pillars of collaboration KUWAIT: Undersecretary of the Ministry of Finance Aseel Al-Munifi affirmed Tuesday the strength of Kuwait-Spain relations, highlighting their foundation in mutual economic interests, shared visions, and a joint commitment to prosperity and sustainable development. Speaking to KUNA on the sidelines of the Kuwaiti-Spanish Joint Committee for Economic Cooperation meeting, Al-Munifi said the gathering underscored various pillars of collaboration between the two countries. These include key sectors such as finance, investment, trade, industrial development, and agricultural and food security, all aimed at further enhancing economic exchange and mutual growth. Al-Munifi emphasized Kuwait's keenness to benefit from Spain's expertise in innovation, technology and sustainability. She also reaffirmed Kuwait's strategic objective to diversify its economy and expand the private sector's role through a competitive investment environment and a geographically advantageous location that can serve as a regional hub for Spanish enterprises. She added that the outcomes of the joint committee meeting reflect the 'genuine will' of both nations to strengthen their economic and commercial cooperation, with a clear focus on advancing shared priorities in the next phase of engagement. For her part, Spain's Secretary of State for Trade at the Ministry of Economy, Trade and Business, Amparo Lopez Sinovila, described the joint committee as a vital platform for addressing key economic issues, removing barriers to trade and investment, and fostering meaningful dialogue on areas of mutual interest. Kuwaiti-Spanish Joint Committee for Economic Cooperation holds talks to discuss finance, investment, trade, industrial development, agricultural and food security. – KUNA photos Lopez Sinovila called on business chambers in both countries to intensify efforts by organizing forums and specialized exhibitions to explore new trade and investment opportunities. She also encouraged continued exchange of trade delegations and the promotion of Spanish products in the Kuwaiti market. In a related development, the Kuwait Chamber of Commerce and Industry hosted a Spanish trade delegation led by Minister of State for Trade Amparo Lopez Sinovila, with the participation of Spanish Ambassador to Kuwait Manuel Anandiz Gamayo and representatives of leading Spanish companies. During the meeting, Al-Munifi urged Kuwaiti and Spanish business leaders to pursue joint ventures in key fields such as transportation, construction, healthcare and technology. She reiterated the Ministry's commitment to supporting Spanish companies and helping address any challenges they may face in Kuwait's market. The Chamber, in a statement following the meeting, welcomed the Spanish delegation and praised the visit as part of ongoing efforts to bolster Kuwaiti-Spanish economic relations. It affirmed that bilateral trade ties are robust, noting that Spain is among Kuwait's most significant trading partners in the European Union. Trade between the two countries has surpassed $1 billion, while Kuwaiti investments in Spain have grown across vital sectors such as finance, tourism and energy. Spanish exports to Kuwait, including machinery, ceramics, chemicals, and global fashion brands, continue to find a strong market. The sports sector has also witnessed notable collaboration, with the Rafael Nadal Tennis Academy choosing Kuwait for its first expansion outside Spain. The Chamber highlighted the key contributions of Spanish engineering firms to major infrastructure projects in Kuwait, including the Gamal Abdel Nasser Highway and the airport expansion, underscoring the deepening trust and potential for future cooperation. With Kuwait striving for economic diversification and Spain seeking broader global engagement, the Chamber stressed that the current momentum presents an ideal opportunity to expand cooperation in areas such as renewable energy, innovation, tourism, and logistics. It concluded by affirming its readiness to act as a strategic partner in facilitating dialogue, resolving challenges, and fostering sustainable partnerships that benefit both economies. — KUNA
