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Romanian trade Minister's visit strengthens ties with Kuwait
October 28, 2017, 4:04 pm
Harry – Ilan Laufer, Minister for Commerce, Business Environment & Entrepreneurship

“As the fastest growing economy in the European Union, Romania is ideally placed to provide a bridge with Kuwait and the European Union,” disclosed Harry -Ilan Laufer, Romanian minister for Commerce, Business Environment & Entrepreneurship in an exclusive interview with The Times, Kuwait.

The Romanian minister during his three-day visit to the country held meetings with Kuwaiti’s Minister of Commerce and Industry Nasser Al Roudhan as well as Chamber of Commerce Chairman Ali Mohammad Thunayan Al Ghanim, were several topics related to boosting trade relations were discussed.

“I was very satisfied with the meetings and there is the same mutual feeling for better partnership with Romania,” the minister revealed, adding that a big openness to have bigger and better trade relations between the two countries was expressed.

Minister Ilan Laufer pointed out that his visit to Kuwait was to understand the trade potential and plan for increased future cooperation between the two countries. He disclosed that the Kuwaiti side was very keen to invest in Romania and pointed out that Kuwaiti indirect investments increased eight times in the past eight years indicating the interest and strength of Romanian economy.

“We will be coming with concrete projects in the near future to offer the Kuwaiti side,” the minister said while indicating areas where Kuwait could invest, including in agricultural sector, health care, energy, real estate, hospitality.

Romania was poised to make great leaps in its health care sector with almost eight brand new hospitals worth US$3 billion under construction and a new law for Private Public Partnership in the final stages that will make Romania one of the best investment destinations in the region. The minister said the plan of bringing Kuwait companies and Romanian companies together was the next important step to boost business relations. He pointed that even though there had been a lag in visits during the past 20 years both sides were interested to catch up.

“The time to relaunch our relations with Kuwait is ripe and we want to encourage direct investments as well,” the minister noted. Our special relation with Kuwait will help us to facilitate our trade relations.

The minister said bilateral trade, which was about $50 million between the two nations, was not so good and a lot needed to be done to increase this. Romania has several investment opportunities and Kuwait could take advantage of these opportunities as the investment climate was one of the best in the region. We also have several state aid schemes that provides financial support to investors as well.

Romania is also having a very attractive tourism sector and a lot of Kuwaiti visitors take advantage of the tourist friendly state, said the minister. The minister who was impressed by the openness and hospitality he received, added that the Kuwaiti people he met were very keen to build on the historical and special relationship the two countries shared.

Reaven D’Souza
Managing Editor



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