Belgium, Kuwait determined to strengthen economic ties, cooperation

BRUSSELS, Nov 20 (KUNA) -- The first Belgium-Kuwait joint economic committee meeting ended Tuesday evening in Brussels with both sides expressing satisfaction over the outcome and underlined their determination to deepen and strengthen their bilateral economic cooperation.
Ambassador Anick Van Calster, Director General for bilateral affairs at the Belgian foreign ministry, described the outcome of the meeting as "very fruitful." "It was long overdue because there is really a room to further increase our economic relation," she told the Kuwait news agency (KUNA).
"It was a successful meeting because both parties with large delegations were able to present the opportunities but also the challenges they face in working together," said Van Calster who led the Belgian side at the meeting.
"We got some new ideas how to work better together and more, and we have already decided that we will meet again next year to develop our cooperation" she added.
Kuwait's ambassador to Belgium, EU and NATO described the meeting as "historical which laid the ground for a fruitful futuristic cooperation in the economic field between Belgium and Kuwait." "We had very open, transparent and fruitful discussions where we talked about the possibilities that are ahead of us and the challenges that we need to overcome to take this economic relationship to a higher level," he told KUNA.
"There are many opportunities by Kuwait to Belgian companies. We are a leading country in so many aspects and we need to explain this to our Belgian side and this was done today," he noted.
Sam Servaes, economic and commercial counsellor in the Belgian embassy in Kuwait, said the meeting went "very well." "We were happy to welcome the large Kuwaiti delegation including various institutions. They gave a rich presentation, "he said.
The Belgian side presented three success stories in the medical sector, in Kuwait and in the ports sector in Kuwait, he noted.
He said that there is good collaboration between the Antwerp port in Belgium and the port in Kuwait.
"Such meetings are pivotal for our relations," he told KUNA and noted that a delegation of Kuwait chamber of commerce is expected to visit Belgium next year and added, "we hope that lot of business opportunities will come from that." The Belgian side will also organise end of next year a new trade mission to Kuwait focussed on the entertainment sector, said Servaes.
The one day-meeting was divided into two sessions, one dealing with the economic situation in Belgium and Kuwait and the economic opportunities available.
The second session on the Economic Dialogue was about success stories, the difficulties encountered and future cooperation between the two countries.
Assistant foreign minister for economic affairs Amal Al Hamad who led the Kuwaiti delegation said, "Kuwait has numerous success stories with different countries of the world but they vary depending on the economic environment, facilities and investment opportunities." Dennis Gijsbrechts, analyst at Belgium's Foreign Trade Agency noted that Belgian exports to Kuwait in the first six months of 2019 amounted to about 125 million euro (USD 138 million), an increase of 8.2 percent, while Belgium's imports from Kuwait were valued at 21.5 million euro (USD 23.8 million) an increase of 57.8 percent.
Representatives from 11 agencies of Kuwait, including Q8, port authority, Kuwait Direct Investment Promotion Authority, Supreme Council for Planning Development, Kuwait Institute for Scientific Research participated in the one-day event.
They explained in their presentations to the Belgian side of major steps taken by Kuwait to improve its business environment and investments opportunities under the Kuwait vision 2035.
Representatives from seven Belgian agencies took part who elaborated on the opportunities and capabilities of Belgian companies to do business in Kuwait. (end) nk.mb