Kuwait-Spain talks focus on economic growth
KCCI affirmed the strong and longstanding economic relationship between Kuwait and Spain, indicating that Spain is among Kuwait's major trading partners in the European Union (EU). It added that bilateral trade recently surpassed $1 billion, a testament to the growing commercial exchange between the two countries. Spanish exports to Kuwait include machinery, industrial equipment, ceramics, chemical products, and internationally renowned fashion brands. Recently, the sports sector emerged as a new area of exchange, particularly with the expansion of the Rafael Nadal Tennis Academy to Kuwait -- its first branch outside of Spain. On the investment front, Kuwait's ventures in Spain demonstrate high confidence in Spanish sectors; such as finance, tourism and energy. Spanish engineering firms have also played a critical role in major infrastructure projects in Kuwait, including the Gamal Abdel Nasser Highway and Kuwait International Airport expansion. KCCI emphasized that these achievements reflect mutual trust and serve as a foundation for even greater cooperation.
With Kuwait actively pursuing economic diversification and Spain expanding its global reach, the visit offers a strategic opportunity to enhance collaboration in sectors like energy transition, innovation, tourism and logistics. It reiterated its readiness to serve as the main facilitator for these efforts by promoting dialogue, eliminating barriers, and supporting partnerships that generate long-term economic value. Meanwhile, Al-Munifi urged investors from both countries to build joint ventures in a wide range of sectors; including transportation, construction, healthcare and technology. She pointed out the active presence of Spanish companies in Kuwait and confirmed the commitment of the Finance Ministry to support them and address any challenges they might face. Senovilla commended the excellent bilateral relations, emphasizing Spain's strategic geographic position as a gateway to European markets. She called for further trade cooperation; particularly in the fields of healthcare, building materials, transportation and education. Gamayo echoed these sentiments, praising the historical friendship between the two countries and reaffirming Spain's commitment to advancing bilateral relations. Jaime Montalvo, Director of International Affairs at the Spanish Chamber of Commerce, affirmed the role of the Joint Economic Committee in fostering deeper collaboration. He said Spain is focusing on the development of small and medium enterprises (SMEs) as a vital area for joint growth.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arab Times
5 hours ago
- Arab Times
This Brave Indian Expat's Story Will Make You Think Twice About Buying a Kuwait Visa
KUWAIT CITY, July 25: A long-term Indian resident in Kuwait has come forward with a harrowing personal account of alleged visa trading, fraud, and exploitation — revealing how he was trapped for over two years without a valid residence permit, income, or legal recourse. The man, who first arrived in Kuwait at the age of five and has lived in the country for decades, claims he became a victim of a widespread visa racket run under the guise of a legal trading company based in Farwaniya. His story begins in 2019, when he joined (M-A-A) General Trading & Contracting Co., hoping to start a small business under their commercial license. The Indian caretaker manager of the company, identified as A.K, allegedly struck a deal with him and several others — offering use of the company license in exchange for fees. But what began as a business arrangement quickly turned into a financial trap. "He took money from us — for salaries, stamping, insurance, office rent — but never gave receipts or proper documentation. We trusted him because of his age and his promises," the expat recalled." He and three others signed agreements, but they were never registered with the Chamber of Commerce. When asked to involve the Kuwaiti owner, the manager reportedly dismissed the request and assured them there was no reason to worry. The Pandemic Turned Exploitation Into a Full-Blown Racket According to the victim, the real trouble began after the COVID-19 pandemic hit. With businesses shutting down and work drying up, A.K allegedly began openly selling visas, demanding between 500 to 1,800 Kuwaiti Dinars from desperate job seekers. 'He took KD 1,250 from me when my residence expired in August 2022. He kept my passport, told me lies, and left me jobless for two years. I was borrowing money just to eat.' He claims the manager used his access to the company bank accounts and personal documents to manipulate him and others, even making them sign fake salary receipts to keep the company's labour files active. "He had everyone's bank cards, withdrew the salary himself, and gave nothing to the workers," he alleged. 'He Held My Passport for Two Years' Perhaps the most disturbing element of the complaint is the claim that the manager deliberately withheld his passport for over two years, using it as leverage to prevent him from meeting the Kuwaiti sponsor or seeking legal protection. When he finally approached Kuwait's Public Authority of Manpower (Shoun), he managed to get in touch with the actual sponsor, who reportedly agreed to help — but by then, the passport had expired. The expat was forced to apply for an emergency passport from the Indian Embassy, incurring additional costs and months of delay. 'He told me to declare my passport lost just so he could use my residency slot to bring in someone else and collect more money. Then he mocked me for applying for the special passport,' the victim said. 'Nothing Was Done' – Call for Accountability Although the company's file was eventually closed and the victim was released from sponsorship in October 2024, he says no further action was taken against the company or its manager. 'Shoun closed the file. What about the bank account? What about the money taken from others?' He claims that even today, visa trading continues from the same office located in Farwaniya, near Metro Cinema. The company board still reads the company name, and the same Indian manager is allegedly still operating there. 'How Many More Will Be Cheated?' The whistleblower says he aims to warn others (particularly new expats) who are lured by promises of legal residency and a better life, only to find themselves trapped in a system with little oversight and almost no justice. 'There are many such offices in Farwaniya, Jleeb, Fahaheel, and Mangaf. Reputed Kuwaiti names on the board, but inside it's a racket run by greedy managers. Why is there no audit? No punishment?' He has called for stricter regulation of company sponsorships, transparency in labour transactions, and urgent action against visa trading, which remains a criminal offense under Kuwaiti law.
Kuwait Times
13 hours ago
- Kuwait Times
Indian mango festival showcases uncommon varieties in Kuwait
KUWAIT: Kuwait ranks among the top five importers of Indian mangoes, with trade valued at $3 million last year, according to Indian Ambassador to Kuwait Dr Adarsh Swaika. His remarks came during a buyer-seller meet (BSM) hosted at the Kuwait Chamber of Commerce and Industry (KCCI) on Thursday. The event aimed to strengthen agri-food trade between the two countries by introducing new varieties of Indian mangoes and other value-added agro-products to the Kuwaiti market. KUWAIT: Businessmen interact with vendors during a buyer-seller meet (BSM) hosted at the Kuwait Chamber of Commerce and Industry (KCCI) on Thursday. Indian Ambassador to Kuwait Dr Adarsh Swaika attends the event aimed at introducing new varieties of Indian mangoes and other value-added agro-products to the Kuwaiti market. While varieties such as Alphonso, Badami, and Sindoori are already well-known in Kuwait, Ambassador Swaika emphasized the festival's goal of spotlighting lesser-known yet premium varieties from the Indian states of Uttar Pradesh—the country's largest mango-producing state—and West Bengal. Among the featured fruits were Chausa, Mallika, Amrapali, Dussheri, Langra, and the distinctive Fazli mango, which holds a Geographical Indication (GI) tag for its unique origin and characteristics. The promotional campaign was organized by the Embassy of India in Kuwait in collaboration with the Agricultural and Processed Food Products Export Development Authority (APEDA). A ten-member delegation of Indian exporters participated in the two-day program from Wednesday to Thursday, which included retail activations, B2B meetings, and public outreach events. One of the highlights was Mango Mania, a large-scale showcase held at Lulu Hypermarket in Al Rai, where shoppers sampled an array of mangoes flown in specially for the occasion. On Thursday, the Mango Festival at The Avenues mall drew a diverse crowd including Kuwaiti officials, foreign diplomats, members of the Indian diaspora, business leaders, and families. Visitors enjoyed live tastings and a curated menu of Indian mango-based recipes, celebrating India's rich culinary heritage. From July 25–27, the campaign continues across branches of the popular Indian restaurant chain Asha's, further promoting mango appreciation among local and expatriate diners in Kuwait.
Kuwait Times
13 hours ago
- Kuwait Times
Kuwait delegation heads to China for project talks
Kuwait delegation heads to China for project talks Wastewater treatment, green energy and desertification on agenda of next phase of bilateral cooperation KUWAIT: A high-level technical delegation from Kuwait's Ministry of Public Works is set to travel to China early next week to discuss the launch of a major wastewater treatment initiative. The upcoming visit was announced during a ministerial committee meeting chaired by His Highness the Prime Minister Sheikh Ahmad Al-Abdullah Al-Ahmad Al-Sabah at Bayan Palace on Wednesday. The meeting focused on tracking progress in implementing a series of agreements and memoranda of understanding signed between Kuwait and China. According to Assistant Foreign Minister for Asian Affairs and committee rapporteur, Ambassador Sameeh Johar Hayat, the visiting delegation will work with Chinese counterparts as part of ongoing efforts to strengthen cooperation on infrastructure and environmental development between the two countries. The meeting - the committee's 20th - also reviewed updates on several joint projects, including the Mubarak Al-Kabeer Port, renewable energy initiatives, green waste recycling systems, housing development and free economic zones. 'The Prime Minister directed the committee to intensify efforts to fulfill the aspirations of His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah and His Highness the Crown Prince Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah, and to push forward Kuwait's development goals through coordinated government action,' a statement said. Ambassador Hayat also shared details of a recent eight-day visit by a Chinese government delegation focused on combating desertification. The delegation met with senior Kuwaiti officials and conducted field visits to areas in need of land rehabilitation. The outcome was a technical report outlining practical steps for joint action on land reclamation and ecosystem restoration. The committee emphasized that work would continue in phases as part of Kuwait's national environmental strategy, in line with 'high-level directives' to expand green programs, protect natural resources and curb the encroachment of sand. Among those present at the meeting were Minister of Public Works Dr Noura Al-Mashaan, Minister of Finance and Minister of State for Economic Affairs and Investment Noura Al-Fassam, Minister of Electricity, Water and Renewable Energy Dr Sabeeh Al-Mukhaizeem, Acting Chief of the Prime Minister's Diwan Sheikh Khaled Mohammad Al-Khaled Al-Sabah, and Head of the Fatwa and Legislation Department Counselor Salah Al-Majed. — KUNA
