Kuwait ‘can benefit from Saudi-Iran reconciliation’

Kuwait ‘can benefit from Saudi-Iran reconciliation’

By Majd Othman

KUWAIT: In the last few months, the region has witnessed a progressive step through the Saudi-Iranian reconciliation. This will surely lead the region into a new era of bilateral relations, particularly in economic and trade relations among the GCC countries. While Kuwait is considered one of the key pillars of the economy in the GCC, the effect of this reconciliation is expected to be quite promising. The Kuwait Times spoke with business experts and discussed with them the possible positive impact on Kuwait’s economy following the reconciliation and what their expectations are for the country.

Consultant and oil expert Abdulsamee Bahbahani said that in view of the major transformation that is taking place in Saudi Arabia, the kingdom is keen on establishing more business relations with other countries in the region. It does not seek to limit its relations to geopolitical factors, as the country is witnessing a qualitative leap in economic development and has directed its investments so as to create big and profitable projects. “This trend was greatly reflected in the oil sector.

These positive changes in Saudi Arabia have reflected on OPEC with a significant impact since Prince Mohammad bin Salman led the OPEC conference ten years