German exports to Kuwait fourth at €1.4bn in 2012

Germany is the fourth largest exporter to Kuwait, with exports worth a total EUR 1.4 billion in 2012, said Chairman of Kuwait Chamber of Commerce and Industry (KCCI) Ali Al-Ghanim on Sunday, noting to the strong economic ties between both countries.  Upon receiving 28 members from the German Chamber of Commerce and Industry, headed by President Dr. Thomas Bach, Al-Ghanem made his remarks, adding that there is a joint understanding between the two sides in bolstering such economic ties to become a "progressive partnership." Al-Ghanim noted that Kuwait enjoys "a democratic and judicial system, in addition to able financial and investment institutions, with an advanced financial market and a vibrant private sector of vast experience." The Kuwaiti official added that, on the other hand, there is a huge opportunity for the Kuwaiti private sector to invest in Germany, particularly since Kuwait is the first Arab nation to have been investing in Germany for more than four decades.  For his part, Bach said that his country was keen on developing its trade relations with Kuwait for more fruitful results in the future, while German companies are able to provide tangible solutions for development projects currently being assumed by Kuwait - especially in the fields of energy production and distribution and water desalination.  Bach added that the world's third largest economy, Germany, seeks to maintain its strong global economic position in the euro zone amid a stable and stable european currency and economy.