The representatives of Italian and Kuwaiti Oil & Gas companies will attend a business forum on January 30 and 31, to foster business opportunities. In line with the excellent relations between Italy and Kuwait, The representatives of 30 Italian companies working in the Oil & Gas sector will attend the forum organized by the Italian Embassy and the Italian export credit agency (SACE).
The companies, along with SACE, the Italian Embassy, the Italian Trade Agency (ITA) and the General Confederation of Italian Industry (Confindustria) will meet around 25 public and private Kuwaiti institutions to discuss new opportunities of cooperation in the field of oil & gas, with a view to incorporate renewable energy, hydrogen and carbon capture technologies.
The first day of the forum will be dedicated to meetings at the Headquarters of the Kuwait Chamber of Commerce and Industry, the Kuwait Direct Investment Promotion Authority (KDIPA) and at the Kuwait Petroleum Corporation (KPC), while the following day will be dedicated to presentations of the Kuwaiti economic environment, given by renowned Consulting and Law firms and business-to-business meetings, between the Italian and the Kuwaiti companies, at the Sheraton Four Points hotel.
This event comes three years after the last similar visit of Italian Oil & Gas Companies in Kuwait and the signing of a $ 600-million push-facility agreement, between the Italian export credit agency (SACE) and the Kuwait Petroleum Corporation (KPC) that aims at strengthening its business relations with Italian companies, through the organization of business-matching meetings.
Data from Italian Statistics Institution (ISTAT) show that, in the months January-August 2022, the Italian exports to Kuwait have doubled, compared to the same period of 2021, reaching $1.5 billion (+150%), and this highlights the huge opportunities of trade partnership between Italian and Kuwaiti companies.