Kuwait, Saudi Arabia cherish deep-rooted economic ties

Kuwait, Saudi Arabia cherish deep-rooted economic ties

KUWAIT: The State of Kuwait and Kingdom of Saudi Arabia are tied with distinguished deep-rooted relations, especially in the economic field. The upcoming visit of His Highness the Crown Prince Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah today to Saudi Arabia comes to boost bilateral ties to wider domains and levels of cooperation, which would positively reflect on the bilateral relations and Gulf Cooperation Council (GCC) countries' common interests.

Kuwaiti exports to Saudi Arabia climbed during the COVID-19 pandemic by 11.3 percent, and Saudi ranked first as a commercial partner for Kuwaiti exports during the last quarter of 2020, at a time of closure of international economies. Local exports to Saudi Arabia climbed by 11.3 percent to reach KD 59 million (around $194.7 million) compared to the same period of 2019 out of total Kuwaiti non-oil exports of a value of KD 358.8 million (around $1.1 billion), according to the Kuwait's Central Statistical Bureau.

Kuwait's total exports to Saudi in 2020 reached KD 205 million (around $676.5) compared to KD 197 million (around $650 million) during 2019, whereas Saudi exports to Kuwait reached KD 504.5 million (around $1.6 billion) compared to KD 629.6 million in 2019. Cooperation between the two nations is not only