(MENAFN - Kuwait News Agency (KUNA)) French Minister for Foreign Trade Nicole Bricq called here on Wednesday on Kuwaiti investors to invest in the French industrial sector and diversify their investments on other various fields, noting that 70 percent of Kuwaiti investments in France goes to real estate sector.
Studies show that current French products share in Kuwaiti market fell back by 2.5 percent, compared with six percent in the 1990s, French Minister indicated in her speech while visiting Kuwait Chamber of Commerce and Industry (KCCI), where she met with Chamber's president and representatives of Kuwaiti private sector.
"I encourage Kuwait, through its institutions, its enterprises, and its citizens to invest in France, further strengthening the historic ties between our two countries," Bricq said, adding that "the opportunities for Kuwaiti capital are multiple in the large French corporate groups, as well as in the small and medium innovative enterprises." Furthermore, Bricq pointed out that return of French products to Gulf Cooperation Council (GCC) countries' markets, especially Kuwait, is one of her ministry's top priorities, which are being worked upon via medical and infrastructure sectors.
"My visit will endeavor to focus on two essential themes; infrastructure and health. The needs are tremendous, matching the growing vitality of the Kuwaiti economy and the rapid growth of the population," said Bricq.
"The four years' development plan presented by the government and endorsed by Parliament gives the proper answer to the challenges. French companies, widely known for their know-how and expertise, can contribute, together with Kuwaiti partner groups, to projects implementation," added the French Minister.
Also, she stressed her country's readiness for transferring technology to Kuwait, noting importance of discussing all issues during the joint French-Kuwaiti economic committee meeting, to be held in Paris this year, and to lay a clear roadmap and projects that French companies can contribute in achieving.
In addition, the French minister indicated that she has showcased a new financial product to the Kuwait Investment Authority (KIA), which would support and increase state and private investments in France and Kuwait, pointing out that she has listened during her meetings to several notes, in which she would work to find solutions for.
In the same context, Bricq lauded the historic relations between her country and Kuwait, noting that French-Kuwaiti friendship ties became stronger and deeper over time on political, economic, and cultural levels.
"France and Kuwait have built up, since the independence of this country, deep and trusting relationships that have been growing stronger over time. Our two countries show affinities towards each other and share common interests, on the political level as well as on the economic and cultural levels," said Bricq.
Moreover, she indicated that "the two-way economic relation established by our countries is essential. I am pleased to note the strong growth in volume of trade between France and Kuwait, which reached EUR 1 billion in 2012," pointing out that Kuwaiti companies and merchants are showing growing interest in French products, which contributed to the rise of French exports by 20 percent, reaching more than EUR 380 million.
