mexican press forecast growth of ties with kuwait
Last Updated : GMT 13:03:42
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Mexican press forecast growth of ties with Kuwait

Arab Today, arab today

Arab Today, arab today Mexican press forecast growth of ties with Kuwait

Mexico City - Kuna

The Mexican press gave prominence in the Thursday editions to the recent visit to Kuwait by the head of the government of the federal district of Mexico, Mayor of Mexico City Marcelo Ebrard, affirming that its outcome would impact positively on the bilateral ties between the two friendly countries.The Kuwaiti ambassador to the States of Mexico, Samih Jawhar Hayat, said in an interview published by the local daily newspaper, \"El Universal,\" the twining accord, signed between Kuwait city and Mexico city during Ebrard\'s visit would pave the way for establishing mutual cooperation between the two countries in various sectors.Hayat indicated at the abundant Mexican wealth and resources and prospected investment opportunities that could be employed by Kuwaiti entrepreneurs.Ebrard, during the visit to Kuwait early this week, signed the twining agreement stipulating plans for boosting the mutual cooperation between the two states in the scientific, technological, cultural, sports, tourist, commercial and infrastructural fields.His Highness the Amir\'s hosting of the mayor was intended to express gratitude for Mexico for supporting Kuwait against the 1990 Iraqi aggression.Ebrard, during the visit to Kuwait, inspected an oil field and met with staff in the sector. He also visited the headquarters of the Public Investment Authority and the Chamber of Industry and Commerce, where he held talks with leading businessmen.Hayat indicated that political affiliation of any Mexican official visiting Kuwait should not be taken into consideration, re-asserting HH the Amir\'s aspiration to transform the Gulf country into a lucrative business hub.The diplomat indicated at Mexico\'s current interest to enhance ties with the Arab world.At present, two major and resourceful regions in the world are likely to play a major role in shaping the future of the globe; China and the Gulf states, namely Kuwait, Saudi Arabia, Qatar and the UAE, he opined.Kuwait has oil reserves ten times larger than those of Mexico and has employed modern technology for transforming crude oil into benzene. By contrast, the Mexicans lack such technology and import the benzene and other oil derivatives.Volume of the Kuwaiti-Mexican trade is estimated at only USD 40 million, he said, calling for greater efforts to enhance the commercial cooperation between the two sides. He expected the trade exchanges to grow 150 percent and Kuwaiti investments, worth USD 60 million, be drawn to the Mexican market.He also noted that the Mexicans could also invest in Kuwait, where the government has drawn up a KD 30 billion development strategy, envisaging construction of highways, tourist complexes and energy installations.

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