Kuwait seeks further multi-faceted cooperation with Mercedes-Benz - KIA chief

BERLIN, April 11 (KUNA) -- Kuwait Investment Authority's partnership with Mercedes-Benz AG "is not mere financial investment" but an example of how sovereign wealth funds build "quality partnership" with global companies to establish long-term relation based on "trust, sustainability and innovation," KIA chief said.
KIA looks forward to building upon this "successful" partnership and expands cooperation to new and strategically-important sectors, which "serves priorities of the two countries and is in harmony with future visions for development and investment," Managing Director Sheikh Saud Salem Al-Sabah said.
He made his remarks during reception held by Mercedes-Benz AG, at its museum in Stuttgart last night, in honor of Representative of His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, His Highness the Prime Minister Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah to mark 50th anniversary of the partnership between the State of Kuwait and Mercedes-Benz AG group.
"The success of this five-decade partnership affirms vision of Kuwait leadership and reflects Kuwait's position as an international responsible investor, which always seek balance between economic revenue and strategic income," he said.
Sheikh Saud welcomed all initiatives that would promote Mercedes-Benz presence in Kuwait, whether through the increase of its direct investment or contribution to development of Kuwaiti citizens, transfer of knowledge, support innovation, manufacturing and technology.
He thanked His Highness the Amir and His Highness the Crown Prince Sheikh Sabah Khaled Al-Hamad Al-Sabah for their support of this partnership, which was the fruit of years of hard work.
German Finance Minister Jorg Kukies said said Berlin and Kuwait enjoyed solid relationship, and talked about of future of global economy and its impact on economic relations, investment opportunities and trade exchange between the two countries.
Ola Kallenius, Chairman and CEO of Mercedes-Benz Group, said he was happy with the partnership with the State of Kuwait.
He said the company achieved many objectives iin the past years and has many ambitions to expore investment opportunities.
The reception was attended by Minister of Oil and member of the Board of Kuwait Investment Authority (KIA) Tareq Al-Roumi, Chairman of Kuwait Direct Investment Promotion Authority (KDIPA) Dr. Meshaal Jaber Al-Ahmad Al-Sabah, Governor of the Central Bank of Kuwait (CBK) Bassel Al-Haroon, and Undersecretary for Finance and Administration at the Diwan of His Highness the Prime Minister Sheikh Khaled Mohammad Al-Khaled Al-Sabah.
Also present were Sheikh Saud Al-Sabah, Kuwaiti Ambassador Germany Reem Al-Khaled, head of the Kuwaiti Investment Office in London Abdulaziz Al-Mukhaizeem, Kuwaiti General Consul in the city of Frankfurt Adel Al-Ghunaiman, members of the board of KIA, and officials at the Diwan of His Highness the Prime Minister. (end) bs