Iran calls to boost economic relations with Kuwait

Iran Minister of Economic and Financial Affairs Ali Tayebnia yesterday called for economic and trade relations with Kuwait to be boosted and for a joint committee to be set up to include businessmen from both countries to exchange information and experiences on investment opportunities, the Anadolu Agency reported.

The Iranian minister made his remarks during a press conference on the sidelines of his visit to the Kuwaiti Chamber of Commerce and Industry.

$250 million
Net worth of trade between Iran and Kuwait

A high ranking Iranian delegation including officials from the Central Bank of Iran and the Investment Authority began a three day visit to Kuwait on Tuesday.

Tayebnia invited Kuwaiti businessmen to visit Iran to explore investment opportunities and benefit from lucrative incentives his country offers to encourage foreign investors mainly in the fields of agriculture, tourism and manufacturing.

The Iranian minister pointed out that economic relations between his country and Kuwait are still low despite the availability of enormous potential to improve these relations.

Trade between Iran and Kuwait reached 187 million Kuwaiti dinars ($635.5 million) in 2012 and fell to 154 million dinars ($523 million) in 2013.