Kuwait, China parallel development plans encapsulate growing relations

Kuwait, China parallel development plans encapsulate growing relations

KUWAIT: Kuwait’s Vision 2035 economic diversification plan and China’s Belt and Road Initiative (BRI) infrastructure project are intertwined in the sense that the strategies reflect deepening bilateral relations, besides common ambitions for national prosperity.

Given its strategic location in the Gulf Arab region, Kuwait has long shared a historic relationship with the world’s second-most populous nation, having been the first Gulf Arab country to establish diplomatic relations with Beijing, which commenced in earnest back in March of 1971.

Kuwait has always given the lion’s share of precedence to China in terms of its diplomatic relations with Eastern Asia, as evidenced by the increasing exchange of high-profile visits between both sides that has given impetus to an improvement in relations, mainly in economic cooperation.

Trade ties between Kuwait and China have been on an upward trajectory since 1982, while no Arab nation has given more soft loans to Beijing than Kuwait, in addition to a pivotal memorandum of understanding in 2014 that aimed to pave the way for Kuwaiti ambitions to morph into a global financial and trade hub.

China’s BRI infrastructure plan and Kuwait’s 2035 economic diversification plan draw parallels in their common aim to form a vibrant global trade zone that will bode