Minister of Finance, Minister of State for Economic Affairs and Investment, Minister of Oil and Acting Minister of State for National Assembly Affairs Manaf Al-Hajri affirmed that the State of Kuwait is investing and working within its announced strategic plans to continue playing an increasing role within the world as a safe source of energy, and calls on the world to invest in all types of energy to ensure that the growing needs of the world are met.
In a speech he delivered during a ceremony hosted by the Iraqi capital, Baghdad, on the occasion of the diamond anniversary of the founding of the Organization of Petroleum Exporting Countries (OPEC), Minister Al-Hajri said, “I am honored to represent my country, Kuwait, one of the five founding countries of (OPEC), and I express my gratitude to the brotherly and friendly Republic of Iraq for hosting this historic event” in the People’s Hall, the founding site of (OPEC).
He added, “Today we remember together the five founding countries meeting in the People’s Hall in Baghdad to establish OPEC in September 1960, and in this regard I do not fail to pay tribute to the brothers here in the Republic of Iraq for the atmosphere of welcome and hospitality.”
He pointed out that “OPEC represents an important pillar in the energy community in the world and remains a key and essential valve to ensure security of supplies and sustainable stability to support the cohesion of all its members who continue to invest in production capacity to ensure sufficient supplies for global demand now and in the future.”
“I am also pleased to be here with the (OPEC) family to celebrate the 63rd anniversary of the founding of (OPEC),” he said, adding that “this success that we are all proud of came as a result of dedication, sincere hard work and full commitment of all (OPEC) members.”
Al-Hajri said, “(OPEC) affirms, through its main objectives and in accordance with its statute and its long-term strategy, its commitment to the security and stability of global oil markets, and is keen to strengthen cooperation frameworks with other producers , dialogue with all influential groups of stakeholders in the industry, and embrace humanitarian concerns such as sustainable development and preservation.”
He went on to say, “The signing of the historic and unprecedented declaration of cooperation in 2016 effectively supported stability in the global oil market, and according to a declaration of cooperation, and OPEC is working with 10 oil producing countries outside OPEC to maintain the stability of oil markets.”
He pointed out that “OPEC is the supporter and realistic sponsor of environmental initiatives and issues related to sustainable development and the elimination of energy scarcity.”
He pointed out that “the challenges of the future will enhance the role of OPEC to ensure a smooth and balanced transition of energy that supports the global economy and industry and is in the interest of man and the environment.”
He concluded by saying, “Cooperation and dialogue have played an effective role in the work of OPEC for more than six decades, and undoubtedly this role will continue in the future for the benefit of producers, consumers, investors and the global economy as a whole.”
