Kuwait Commerce, Industry Minister underscores accommodating digital economy
KUWAIT, Oct 22 (KUNA) -- Kuwaiti Minister of Commerce and Industry Mohammad Al-Aiban underscored Sunday establishing adequate infrastructure to accommodate the growing digital economy, and adapt to arising challenges.
Kuwaiti Minister of Commerce and Industry Mohammad Al-Aiban.
Minister Al-Aiban, also State Minister for Youth Affairs, stated this at the Commerce Ministers conference held between Gulf Countries and China at Chinese city of Guangzhou, mentioned a statement issued by the Ministry.
The Minister explained that digital economy encompasses trade, electric services, data analysis and artificial intelligence.
Al-Aiban spoke of the importance of trade facilitations, saying that the future of trade and investments relies on smooth sailing trade and eradicated obstacles.
He clarified that to keep up with expanding international trade, new policies and adequate mechanisms must be adopted.
The Minister commented on trade relations between Kuwait and China saying that it had scene underwent significant leaps over past few years, as China is considered Kuwait's largest non-oil commodity supplier, and the second major oil buyer.
Mubarak Al-Kabeer port, stated Al-Aiban, is an opportunity for broadening horizons, as it sets out to create direct navigation lines, and augment supply chains.
He added that the strategic partnership between the two nations banks on Kuwait vision 2035 vision, and the Chinese Belt and Road initiative, through comprehensive program on economic cooperation and reviving the Silk Road.
The Silk Road project, expounded the Minister, reflects Kuwait's strategic vision of a financial and commercial regional and international hub, regaining its pioneering position in the field.
He stated that the resumption of free trade negotiations between GCC and China contributes to deepening relations, creating work opportunities and broadening horizons.
The Minister hailed organizing such conferences to develop ties and achieve mutual benefit. (end) aam.aai.
