A delegation of Canadian business owners plans to check out Kuwait the following month as part of a Gulf scenic tour that consists of Qatar and the UAE, with the objective of improving trade exchanges as well as investments between Canada as well as the three Gulf nations, reports Al-Qabas daily. A record released by Radio Canada International on its website stated that the volume of straight Kuwaiti investments in Canada is the biggest compared to Qatar and also the UAE, totaling up to $2.3 billion, while the quantity of Canadian straight investments in Kuwait amounts to $118 million.
Decently, the number of Canadian merchandise exports to Kuwait amounted to $96.4 million in 2020, while the value of Canadian imports of Kuwaiti products totaled up to $277,000. The delegation is led by the Canadian-Arab Trade Council, which is based in Toronto, and includes representatives of Canadian businesses operating in several industries, consisting of clean power, commercial knowledge, as well as agriculture.
The radio price estimated the Chairman of the Board of Directors of the Canadian-Arab Profession Council, Muhammad Sawaf, as saying that the mission of this council, which was developed in 2006, is to advertise profession and investments between Canada and also Arab countries, whether in the center East or North Africa. According to Sawaf, this financial mission to 3 Gulf nations is an opportunity to connect and also develop service connections.
Expansion
It will certainly likewise permit Canadian firms to get very closely familiarized with the possibility of expansion in the region, and to draw in financiers in fields that are considered a lot more valuable such as technology, food sectors, the auto sector, and realty advancement. The Chairman of the Board of Directors of the Canadian- Arab Profession Council pointed out that Canadian citizens in the Gulf countries represent a key resource for profession between their nation and also the region, keeping in mind that 50 thousand Canadians live in the UAE after they left Canada to work in the Gulf.
According to Ottawa, 9,000 Canadians stay in Qatar and work in Canadian and Qatari companies and agencies, while 7,000 Canadians stay in Kuwait, where they operate in vital fields such as the oil industry, education, health, economic solutions, and also engineering. Radio Canada International mentioned that considering that 2019, 450 Kuwaiti pupils are pursuing their research in Canada, a lot of them in the area of medication, while Algonquin College was the first Canadian university to open in Kuwait in Al-Jahra Governorate in 2015.
Last Updated: 12 January 2023
