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US ambassador asks American firms to participate in Kuwait’s development projects

September 30, 2018

United States Ambassador to Kuwait H.E. Lawrence Silverman has asked US firms to actively participate in Kuwait’s development projects, which look to utilize the latest, most effective technologies.

In his address to members of the American Business Council Kuwait (ABCK) at the four Seasons Hotel last week, Ambassador Silverman pointed out the New Kuwait plan includes developing new cities, roads and a new university, as well as improving the power system, the airport, expanding oil exploration and building new petrochemical facilities and hospitals, in addition to developing the islands off the northern coast of Kuwait and improve defence and cyber capabilities.

During his speech, Ambassador Silverman briefed guests on the recent visit of His Highness the Amir Sheikh Sabah Al Ahmad Al Jaber Al Sabah to Washington, where he met with President Donald Trump on 6 September and also held a roundtable with the CEO’s of leading US companies.

His Highness the Amir’s message to the CEOs was simple, Kuwait has a lot of development projects in process, and they need the support of international companies to successfully complete these projects,” Ambassador Silverman told the gathering.

“Our embassy will continue to promote these opportunities to US businesses and to work with the Kuwaiti government to ensure that US companies have a fair and equal opportunity to win these government contracts,” ambassador added. For the first time in 2017, US exports to Kuwait reached an all-time high recording the first-ever trade surplus with Kuwait. He also pointed out that in 2018 so far there was a surplus in US favour.

The US ambassador also revealed that the United States encouraged Kuwait to sign on to the World Trade Organisation’s Trade Facilitation Agreement, which they did earlier this year. Once fully implemented this should result in a significant savings for US exporters as processes are streamlined, goods clear customs more quickly, with more clear accessible export and import regulations, increased automation, and a harmonisation of processes and standards.

He added that the US embassy was now working hard on the upcoming 3rd Strategic Dialogue, which is an annual government-to-government forum chaired by the US Secretary of State and the Kuwait’s Minister of Foreign Affairs to discuss different areas of cooperation within the bilateral relationship.

Earlier the Chairman of the board of ABCK, Oswldo Rueda welcomed members to their Annual Back to Business Networking Meeting. He spoke about the expansion plans for the business council while highlighting the major achievements of the past. He pointed out that the mission of the new board was to become the most recognised business council in the region and also to revamp the benefits to the business community through their membership.

The sole sponsor of the evening Francorp Kuwait CEO Khaled Al Rashed took the stage to present his company’s achievements in the past and its future plans. Francorp Kuwait as a leading franchising firm in the Middle East is part of Francorp, the largest franchise consulting firm globally.

The successful event concluded with a buffet dinner and the chance to make new contact with the American Business Community in Kuwait. ABCK is a non-profit organisation that has been advocating for American Business Interests in Kuwait since 1985.

timeskuwait