KUWAIT CITY: Kuwait and South Korea discussed means of promoting bilateral ties, especially those on trade and commerce, in light of an upcoming visit by South Korean Minister of trade to Kuwait, said the Kuwaiti Embassy in Seoul Friday.
This desire to boost ties came during a meeting between Kuwaiti Ambassador to South Korea Bader Al-Awadhi and South Korean Minister of Trade, Industry, and Energy Joo Hyunhwang, said a statement by the embassy.
During the meeting, Al-Bader lauded relations between Kuwait and South Korea, stressing that the two countries were keen on promoting cooperation in the fields of energy and oil; in addition to encouraging investments in both countries.
Al-Bader said that the South Korean minister’s visit to Kuwait would result in stronger bilateral ties. Relations between Kuwait and South Korea have seen great development in the past few years.
His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah visited Seoul in May 2016 where the two countries saw eye-to-eye on increasing the development of environmental trade, economy and investments.
Kuwait and South Korea agreed that His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah’s 2035 vision would establish greater strategic cooperation. Kuwait is hoping that South Korea will get involved in its short-term and long-term developments plans.
South Korea is considered Kuwait’s biggest trade partner. It exports more than 400,000 oil barrels to Seoul daily.
Kuwait’s imports from South Korea reached 70 percent in the years 2013-2014.Trade volume between the two countries amounted to USD 20 billion in 2015.
