China-Kuwait economic cooperation forum kicks off NW China

China-Kuwait Economic Cooperation Forum and Project Matchmaking Conference kicked off Monday with large Chinese and Kuwaiti participation to discuss bolstering bilateral trade and investment relations. The forum and conference are held on the sidelines of the China-Arab Expo in the Chinese Northwestern Province of Ningxia. Vice-Chairman of Ningxia Hui Autonomous Region Yuan Jiajun said that Kuwait plays an effective role in simulating the world economy through its finance of development projects in different countries across the globe. Yuan pointed out that China is interested in enhancing economic cooperation and trade exchange with Kuwait, particularly in agricultural and food projects. He also proposed founding a special fund to develop and promote halal food in the Ningxia Hui Region. Yuan added that there are diverse investment opportunities in the two countries and suggested a partnership to implement a number of energy, sustainable development and tourism projects. For his part, Kuwait Ambassador to China Mohammad Al-Thuwaikh hailed the strong Kuwaiti-Chinese relations, adding that his country is keen on developing its economic partnership with China. Kuwait is also committed to support development projects in China and in Ningxia Hui Province in particular, Al-Thuwaikh stressed. He noted that Kuwait Fund for Arab Economic Development had finance the building a hospital and rural areas development projects in the province with two loans at a value of USD 30 million and USD 68 million respectively. Meanwhile, Assistant Undersecretary for International Organizations and External Trade at Kuwait's Commerce and Industry Ministry, Abdullah Al-Owaisi, thanked Chinese officials for choosing Kuwait as a "Guest of Honor" at the China-Arab Expo. "Kuwait and China established diplomatic relations in 1971, since then bilateral cooperation in different domains have been growing steadily," Al-Owaisi said. He pointed out that China is Kuwait's top trade partner, estimating the trade exchange between the two countries at USD 12 billion in 2012.