Kuwait PM calls on President Mukherjee (Update)

Kuwait Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah called on President Pranab Mukherjee today at Rashtrapati Bhavan.

The President extended a warm welcome to the Prime Minister of Kuwait and said his visit to India will provide fresh impetus to bilateral relations.

He said high-level exchanges are important to nurture and nourish relations between the two countries.

The President also said relations between India and Kuwait go back many centuries and are based on mutual trust and respect.

Asserting that Kuwait is an important supplier of oil to India, Mukherjee said: "Around 10 per cent of India's oil imports comes from Kuwait. Bilateral trade in the energy sector is over USD 15 billion."

"There is great potential to deepen this relationship through joint ventures in the field of petrochemicals and refineries in India. Economic relations must be diversified to industry and manufacturing. India requires around 1 trillion dollars investment in infrastructure and Kuwaiti investments are most welcome. Indian companies today have expertise in various fields and can also invest in Kuwait. There is wide scope for mutual investments," he added.

The President called for expanding cooperation to new sectors which are of mutual interest.

He said the Indian community in Kuwait is contributing to Kuwait's development and progress and serves as a useful bridge between two countries.

The Prime Minister of Kuwait reciprocated the sentiments expressed by the President. He said there is great potential for strengthening relations and Kuwait is optimistic in this regard.

He praised the large Indian community in Kuwait as hard working, disciplined and a model for others.