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Kuwait to establish new free trade zones -- Minister |
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Business News
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Wednesday, 21 October 2009 00:01 |
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Kuwait is preparing a strategy to establish new free trade (FTZ) and logistical zones, said Commerce and Industry Minister Ahmad Al-Haroun on Tuesday.
Speaking to KUNA, Al-Haroun said that the current FTZ will also be developed to achieve the vision of His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah regarding making Kuwait a regional trade and finance center.
To prepare the strategy on the new zones, a committee of experts was formed, including representatives of Kuwait Investment Authority (KIA), Kuwait Municipality, the public traffic department, Kuwait Fire Service Directorate, Department of Fatwa and Legislation, and the foreign investment office, to be headed by the Commerce and Industry Ministry, he noted.
Another team was formed to discuss the development of the current FTZ, he added.
He said that the main problems in the zone are the traffic jams and the suspended licenses.
He stressed that the team is expected to reach solutions in the next couple of days. - Kuna
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