Kuwait and Switzerland are advancing a new business cooperation agreement to strengthen economic ties. This agreement demonstrates both countries’ commitment to expanding investment opportunities and fostering long-term partnerships.
The announcement followed a meeting between Kuwait’s Chamber of Commerce and Industry and a Swiss economic delegation. Moreover, the delegation was led by Patrick Tran, Head of the Swiss-Kuwaiti Business Platform, and included Swiss Ambassador Tiziano Balmelli. In addition, Imad Al-Zaid, Assistant Director of Kuwait’s Chamber, highlighted the strong historic ties between the two nations.
Al-Zaid noted that the visit coincides with Switzerland’s president’s official trip to Kuwait, marking the 60th anniversary of diplomatic relations. Furthermore, he emphasized that trade and investment have consistently formed the backbone of bilateral relations. In fact, bilateral trade exceeded $800 million in 2024, demonstrating the economic potential for both countries.
Patrick Tran explained that the two-day Swiss-Kuwaiti business event aims to facilitate dialogue and open new collaboration opportunities. He added that Swiss companies are globally recognized for expertise in education, healthcare, high-tech industries, luxury goods, and finance. Consequently, the delegation’s presence signals readiness to deepen cooperation in multiple sectors.
Additionally, Ambassador Balmelli praised Kuwait’s Chamber for hosting the Swiss delegation and supporting the private sector. He also stressed that the meeting strengthens bilateral economic relations while opening doors for trade and investment growth. Furthermore, Balmelli highlighted opportunities in education, construction technology, cybersecurity, and life sciences.
The Swiss delegation included representatives from 14 companies working in family business consulting, wealth management, luxury watches, real estate, and sports technology. Through this event, both sides aim to create lasting partnerships and connect investors with promising projects in Kuwait.
The Swiss-Kuwaiti Business Platform (SKBP) plays a central role in institutionalizing this partnership. Moreover, it seeks to foster sustainable economic collaboration while promoting private sector development in both countries. Experts suggest that this initiative could enhance market access for companies and stimulate innovation in key industries.
Looking ahead, Kuwait and Switzerland plan to explore additional investment projects, expand trade relations, and strengthen professional networks. Therefore, this business cooperation agreement is expected to generate tangible benefits for both nations and support sustainable economic growth.
