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Kuwaiti-Korean commercial exchange is increasing |
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Wednesday, 21 October 2009 00:03 |
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The commercial exchange between Kuwait and South Korea is increasing, visiting Director for Trade Promotion Strategy at Korea International Trade Association (KITA)
Jang Ho-Keun said Tuesday. Relations between Kuwait and South Korea were remarkably boosted in the past few years especially that Kuwaiti market became open for foreign investments, including Korean firms that produce high-quality products with compatible prices, he said in a staement to KUNA.
Ho-Keun, who is heading a delegation groping a number of medium-size companies specialized in heavy machinery, electric appliances, electronics, and food sectors, said his current regional tour that covers Egypt and Saudi Arabia falls within KITA's annual plan to enhance economic cooperation with these countries.
Members of the delegation have met with a number of representatives of Kuwaiti companies. Some of them have shown interest in looking for a Kuwaiti partner for joint investments and businesses, he said.
Commercial exchange between Kuwait and South Korea reached USD 13 billion in 2008, 12 billion of which were oil exports from the Gulf country.
The visit, organized by the Korean Trade Center and the KITA, comes at the time the Korean Embassy is celebrating its 30 years of diplomatic exchange with Kuwait.
The center, which was established in 1946, groups more than 65,000 companies covering a number of sectors and it is directed towards boosting cooperation with foreign countries.
It provides information for foreign investors through seminars and forums in and outside Korea as well as running research and training centers. - Kuna
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