India, Kuwait sets up Joint Commission to push security ties; attracting Kuwaiti investments

NEW DELHI: India and energy-rich Kuwait on Thursday set up a bilateral Joint Commission Meeting (JCM) forum with an eye on creating or expanding partnership in diverse fields including energy and defence besides inviting Kuwaiti investments here for a variety of sectors including infrastructure.

The JCM was formed at a meeting between Sheikh (Dr.) Ahmed Nasser Al-Mohammad Al-Sabah, Foreign Minister and Minister of State for Cabinet Affairs and Foreign Minister S Jaishankar here.

The visiting Minister also handed over to Jaishankar a letter from Kuwait’s Prime Minister Sheikh Sabah Khaled Al-Hamad Al-Sabah addressed to Prime Minister Narendra Modi.

The Joint Commission Meeting (JCM) will act as an umbrella for all bilateral institutional engagements such as Foreign Office Consultations and Joint Working Groups. Apart from the existing Joint Working Groups on hydrocarbons, manpower and mobility, and healthcare, new JWGs on trade and investments, defence and security etc are envisaged to be established, according to an official statement.

The Joint Commission will be charged with formulating the required basis to strengthen the relations between the two countries, particularly in the fields of – Energy, Trade, Economy, Investment, Human Resources, Manpower and Labour, Finance, Skills, Culture, Science & Technology, Information Technology, Health, Education, Defense and Security, according to the statement. The Joint Commission will also review Agreements concluded between the two countries and find suitable solutions for any issues in their implementation.

The Joint Commission Meeting will be co-chaired by the Minister of Foreign Affairs of the State of Kuwait and Indian Foreign Minister. The Joint Commission may consider establishing new Joint Working Groups as appropriate on the subjects of Trade and Investment; Defense, Security and Maritime Cooperation; Science, Technology and Information Technology; Education and Skills Development; Culture, Tourism and Hospitality, according to an official statement.

India is amongst the largest trading partners of Kuwait. Bilateral trade registered a 2.7% yoy growth in FY 2018-19 and stood at $8.76 billion, with Indian exports totalling $1.33 bn and imports at $7.43 bn (POL imports of 10.78 MMT, equivalent to $ 6.43 billion in price terms). The total annual bilateral trade with Kuwait during 2017-18 was $ 8.53 billion. India’s exports to Kuwait included food items, cereals, textiles, garments, electrical and engineering equipment, ceramics, machinery and mechanical appliances, cars, trucks, buses, tyres, chemicals, jewellery, handicrafts, metal products, iron and steel, etc.

There are significant opportunities for further strengthening and deepening ties in sectors such as energy, trade, healthcare, defence and security, science and technology, IT, cybersecurity, culture, education and tourism. Jaishankar during the meet invited more investments from Kuwait into India in diverse sectors including energy, infrastructure, food security, healthcare and education. So far, estimated investments in India are over $ 5 billion, majority of which is by Kuwait Investment Authority (KIA). Kuwait remains a reliable supplier of crude oil & LPG to India.

India had supplied Kuwait with 200,000 doses of ‘Made in India’ Covishield vaccines in February. It is hoped that Indian community will be able to resume travel to Kuwait in larger numbers soon.