Apr 8, 2020, 11:20 AM
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Iran resumes exporting goods to Kuwait, envoy says

Tehran, April 8, IRNA – Iran's Ambassador to Kuwait Mohammad Irani announced the resumption of exports of Iranian goods to Kuwait, and said that Iran has assured the Kuwaitis about compliance with health standards, and the other side has announced its readiness, and trade will probably begin next week.

Irani in an interview with IRNA on Wednesday, Irani said that the Kuwaiti government stopped any Iranian traffic and round-trip flights following the coronavirus outbreak in Iran on February  21, 2020, and immediately on February  22, Kuwait Customs announced within the framework of the Ministry of Commerce that It will prevent the entry of Iranian sailors and goods that entered the port of Kuwait through various launches and vessels and carried food.

Iran's ambassador to Kuwait added: "We immediately sent a note of protest to the Kuwaiti Foreign Ministry, saying that stopping trade and economic cooperation in the current situation may not be the right thing to do, and we as the Islamic Republic of Iran, agree to set a set of standards that can be signed by a health protocol, let's continue the process of exporting goods to Kuwait.

Irani pointed to the concerns of Kuwaiti officials about the corona outbreak, adding: "Because we were at the beginning of the coronavirus outbreak, we postponed the response until later, and during this time we did not receive an accurate response."

Iran's Ambassador to Kuwait Mohammad Irani added that Kuwait was mainly affected by the outbreak of the coronavirus and the problems caused by the presence of foreign nationals in the country, many malls and department stores last week raised concerns about the supply of goods to the people of this country.

The Iranian ambassador to Kuwait added: "Kuwaiti officials contacted us to request meetings, and both last week and Monday this week, this issue was followed up with them, and they announced their readiness to resume importing goods from Iran."

Irani said: "Most of the Kuwaiti market is supplied with Iranian goods and food" and trade exchanges will begin next week.

He added that a number of Kuwaiti businessmen have approached us and apparently agreed to import goods from Iran, which was reported to the authorities of the Islamic Republic, and in Iran there is a readiness to resume exporting goods to Kuwait.

According to statistics, since a long time, Kuwait has been famous, particularly in Iran, for its good economic conditions, as its people are financially capable. The world’s strongest currency, currently, belongs to Kuwait, with the exchange rate between the dollar and the dinar standing at 4.5, meaning that the value of one dinar is as high as $4.5.

Kuwait, however, has nothing to export but oil. Its other export activities are limited to re-exporting other country’s goods and products. Kuwait sits on the world’s fourth largest oil reserves, which, given the country’s small area and population, has caused its people to have a high annual per capita income.

The country has heavily invested the capital it has accumulated through oil sales in international stock exchanges and, simultaneously, has kept the value of its currency stable. At present, Kuwaitis are deemed as big capitalists and trustworthy partners in international stock exchange markets.

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