Alberto Rubio
Kuwait’s investments in Spain and vice versa amounted to 6,000 million euros in 2023, according to the Ambassador of the Arab State, Khalifa Alkhorafi, during the reception he gave to commemorate the 63rd Anniversary of Independence (1961) and the 33rd Anniversary of the Liberation of the country (1991).
This is the highest figure for reciprocal investment between Spain and Kuwait since they established diplomatic relations in 1961. As the Ambassador recalled, the first meeting of the Joint Commission for Economic and Technical Cooperation, which took place in Madrid in November 2022, at which it was agreed to establish a mechanism to give new impetus to trade and investment relations, made a decisive contribution to this.
He expressed his desire to hold the second meeting “later this year”. Alkhorafi stressed that “many large Spanish companies already operate in the State of Kuwait, while other large Kuwaiti companies operate in the Kingdom of Spain, such as Inertech, which belongs to the Kuwait Investment Authority “KIA”, and Kuwait Petroleum International Q8, which opened its first branch in Madrid in 1991.
The ambassador welcomed the recent inauguration of a regular direct route with three flights a week to both Madrid and Barcelona, along with charter flights to Malaga, by Kuwait Airways. “This,” he said, “has contributed to facilitating the flow of exports, imports and tourism, as the Kuwaiti people love Spain and try to visit annually”. Spain received nearly 100,000 Kuwaiti tourists last year.
The ambassador described relations with Spain as “fruitful and solid”, “in which we find a convergence and synergy of views on most regional and international issues, aimed at stability in the region, supporting dialogue and finding peaceful and diplomatic solutions”.
In this regard, he said that “our joy in celebrating this year’s National Day is cut short by the crises and catastrophes that plague the world”. He mentioned “the atrocious crimes committed against the Palestinian people in the Gaza Strip” and called for “a just, lasting and comprehensive two-state solution and the establishment of the Palestinian state on the 1967 borders with East Jerusalem as its capital”.
The reception, at which guests were treated to a close-up view of a falcon display, was attended by numerous representatives of the Spanish administration, as well as foreign ambassadors accredited to Madrid and businessmen from both countries.
