Home Diplomatic Bangladesh-Kuwait trade set to surpass $1 billion annually: Ambassador
Diplomatic - February 18, 2024

Bangladesh-Kuwait trade set to surpass $1 billion annually: Ambassador

Special Correspondent: In a bid to diversify their export destinations, Bangladeshi exporters are urged to consider tapping into the Kuwaiti market, which has shown a growing appetite for finished products such as readymade garments (RMG), newsprints, pharmaceuticals, and ceramics. Ambassador of the State of Kuwait to Bangladesh, Faisal Mutlaq H Al Adwani, highlighted this opportunity in his message commemorating the 63rd National Day and the 33rd Liberation Day of Kuwait.

Emphasizing Kuwait as a strategic hub for emerging markets in the Gulf region, Ambassador Al Adwani stressed that increased collaboration between business chambers and entrepreneurs from both nations, coupled with a diversified export portfolio, could propel the bilateral trade revenue to exceed $1 billion annually.

During the period of July to December, Bangladesh’s exports to Kuwait totaled $21 million, and from July to June, it stood at $40 million.

“As we celebrate Kuwait’s Independence and Liberation Day anniversaries, I extend my heartfelt congratulations to Prime Minister Sheikh Hasina of Bangladesh and Amir Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah of Kuwait,” stated Ambassador Al Adwani.

Reflecting on the longstanding relationship between Kuwait and Bangladesh, he expressed satisfaction at the evolution of their ties into a special relationship built on principles of respect, trust, fairness, and equality.

Acknowledging Bangladesh’s principled stance during Kuwait’s 1990 crisis, Kuwait expressed gratitude for the continued positive contributions of the Bangladeshi diaspora to its development. Kuwait reaffirmed its commitment to supporting Bangladesh’s development endeavors, citing ongoing cooperation in various sectors since 1974.

Furthermore, Kuwait emphasized its support for humanitarian and socio-economic projects in Bangladesh through collaboration with non-governmental organizations, including the Kuwait Society for Relief and Society for Social and Technological Support. These initiatives encompass healthcare, education, housing, water supply, and disaster relief efforts, benefitting both Bangladeshi citizens and Rohingya refugees.

Looking ahead, Kuwait expressed eagerness to strengthen bilateral relations through increased government interactions, trade promotion activities, and cultural exchanges, aiming to elevate their partnership to new heights.

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