Kuwait’s Foreign Minister Ahmed Nasser Al-Mohammad Al-Sabah paid a 2-day visit to India from March 17-18, 2021 at the invitation of Dr S. Jaishankar, External Affairs Minister (EAM) of India.
- During the visit, Mohammad Al-Sabah had a meeting with India’s EAM S. Jaishankar during which they discussed Bilateral Cooperation and regional developments.
- Kuwait’s Foreign Minister thanked India for dispatching a consignment of Indian-made COVID-19 vaccines (under Vaccine Maitri Initiative) for fighting against Coronavirus.
- The two sides released a Joint Statement on the establishment of a Joint Ministerial Commission at the level of Foreign Ministers.
- Both sides agreed to strengthen ties in sectors like energy, trade, healthcare, defence and security, science & technology, IT, Cybersecurity, culture, education and tourism.
Joint Ministerial Commission
The Joint Commission Meeting (JCM) will be co-chaired by the Minister of Foreign Affairs of Kuwait & the Indian Foreign Minister (S. Jaishankar).
- JCM will act as an umbrella for all bilateral institutional engagements like Foreign Office Consultations and Joint Working Groups.
- The JCM will also review concluded Agreements between the two countries & find solutions for addressing the problems in their implementation.
Joint Working Groups (JWGs)
In addition to existing Joint Working Groups (JWGs) on Hydrocarbons, manpower and mobility, and healthcare, New JWGs will be set up in areas like Trade and Investments, Defence and Security & Maritime Cooperation, Science, Technology, Information Technology, Education, Skills Development, Culture, Tourism and Hospitality.
India & Kuwait Trade Relationship
- India is amongst the Largest Trading partners of Kuwait. During 2019-20, Kuwait was the 10th Largest Oil Supplier to India (Top 3 Oil Suppliers to India – Iraq, USA & Nigeria), it met 3.8% of India’s energy needs.
- During the FY 2018-19 Bilateral trade registered a 2.7% growth & stood at USD 8.76 Billion.
- The total annual bilateral trade with Kuwait during 2017-18 was USD 8.53 Billion.
Attracting Kuwait Investments
- During the meeting, India invited more investments from Kuwait into India in the sectors like energy, infrastructure, food security, healthcare & education.
- To date, Kuwait’s estimated investments in India are over USD 5 Billion, the majority of which is by the Kuwait Investment Authority (KIA).
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Emir – Nawaf Al-Ahmad Al-Jaber Al-Sabah
Capital – Kuwait City
Currency – Kuwaiti Dinar (KWD)