Kuwait’s economy has long been underpinned by the production and export of crude oil. Although the rise in oil prices in 2021-22 boosted government revenue and macroeconomic stability, the Covid-19 pandemic – which preceded the commodity price boom – also underscored the risks of overreliance on an industry subject to fluctuating global demand. This has created a fresh impetus...
As part of plans to expand and diversify its global trade partners and fulfil their respective national development strategies, the GCC has launched negotiations with the UK on a free trade agreement (FTA). This partnership is expected to bolster the bloc’s economy, help attract investment and provide greater opportunities for local businesses.
Development aid is a fundamental and long-standing pillar of Kuwait’s foreign policy. Since independence, the combination of the country’s geography, relatively small armed forces and oil wealth have shaped the views of Kuwaiti leadership on the importance of bilateral and multilateral development cooperation as a tool of diplomacy. The country has pioneered regional efforts...
Situated in the north-western corner of the Gulf, bordered by Iraq and Saudi Arabia, Kuwait is a hereditary constitutional monarchy and a founding member of both the GCC and the Organisation of the Petroleum Exporting Countries. The country’s plentiful oil reserves have provided a strong platform for economic development and prosperity.
Various developments point to healthy economic performance in the near term for Kuwait. Chief among them are the upgrade of the country’s stock exchange, which has been approved for inclusion in the MSCI Emerging Markets Index; the rollout of projects such as the Silk City development; major upgrades to the oil and gas downstream segment; and...
Kuwait in brief Position of strength: Efforts to diversify and shift to a knowledge-based economy encourage infrastructure development and investment Viewpoint: Emir Sheikh Sabah Al Ahmed Al Jaber Al Sabah Looking east: Enhanced cooperation and investment across a range of sectors is strengthening ties between China and the GCC A rally year: Plans...
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