The Kuwaiti Crown Prince will launch his visit on Wednesday with aims to deepen ties with Beijing and sign a number of strategic agreements.
Kuwait’s Crown Prince Sheikh Meshal al-Ahmad al-Jaber Al Sabah is set to embark on an official visit to China on Wednesday aimed at strengthening bilateral ties and expanding cooperation between Kuwait and Beijing, state news agency KUNA said on Thursday.
The visit is expected to include the signing of a number of important and vital agreements between the two countries in several fields, as reported earlier by the media outlet.
Kuwait holds the distinction of being the first Gulf state to establish full-scale diplomatic relations with China in 1971.
Moreover, the country ranks as the seventh-largest exporter of crude oil to China, and there are over 60 Chinese companies actively involved in Kuwait, participating in 80 major projects. As of 2022, trade volume between the two nations surged to a historic $31.48 billion.
The strategic Kuwait-China relationship has evolved over the years, especially since 2018, aligning with the development goals of both countries. Kuwait was also the first Arab country to sign a memorandum of understanding with China for participation in Beijing’s foreign flagship project, the Belt and Road Initiative BRI.
Furthermore, the New Kuwait 2035 strategic vision has expedited the country’s efforts to deepen ties with the Asian giant, with a primary focus on transforming the Kuwaiti economy into a diversified and sustainable one away from solely relying on oil revenue, aligning with China’s economic strategy.
After Chinese leader Xi Jinping visited Saudi Arabia in December 2022 to meet with Saudi Crown Prince Mohammed bin Salman, and later brokered a diplomatic breakthrough between Saudi Arabia and Iran, political flourishment was in its bloom state and so were business deals between China and the Middle East.
Beijing has since signed a number of multi-billion dollar deals with several Gulf countries, most notably Saudi Arabia and the UAE.
Following these deals, at the Arab-China Business Conference in Riyadh back in June, the head of Hong Kong’s stock exchange forecasted that the Middle East’s largest sovereign wealth funds’ investments in China could amount to between $1 trillion and $2 trillion by 2030.
It is worth mentioning that the Middle East has served as a better replacement or opportunity for Chinese firms cut off by the US.