Outcome of 4th Korea-Kuwait Policy Consultation

1. On the morning of May 10, Deputy Minister for Political Affairs Choi Youngsam of the Ministry of Foreign Affairs held the 4th Korea-Kuwait policy consultation with Assistant Foreign Minister for Asian Affairs of Kuwait Sameeh Essa Johar Hayat, who is on a visit to Korea.

2. In the policy consultation, the two sides exchanged views on the Korea-Kuwait relations, and substantive cooperation in a range of areas, including trade, investment, energy, infrastructure, public health, aviation, information and communications technology (ICT), and economic security, as well as cooperation on the international stage and regional affairs.

3. The two sides appreciated that the cooperative relations between the two countries, which have expanded in various areas, including energy, construction and infrastructure, since the establishment of diplomatic relations in 1979, are developing into a comprehensive, future-oriented, and mutually-beneficial partnership. They also agreed to work together to upgrade the bilateral relations.

4. Particularly, Deputy Minister Choi expressed appreciation for Kuwait's stable supply of crude oil to Korea amid rising uncertainties and volatility in the energy market, and hoped that the stable cooperative relations in energy with Kuwait will also expand to the renewable energy sector.

5. In addition, Deputy Minister Choi requested the Kuwaiti government's interest and support in the activities of Korean companies operating in Kuwait, including new city development projects, and the resolution of their difficulties. He also conveyed Korean companies' interest in major new projects, such as the Al-Zour petrochemical complex project and the renewable energy project, and asked for Kuwait's interest in the participation of Korean companies.

6. Taking note of the results achieved by excellent Korean companies through participation in various projects in Kuwait, Assistant Foreign Minister Sameeh expressed hope that bilateral cooperation and exchanges will be facilitated not only in economic affairs but in other areas such as culture and arts, and that the Korea-Gulf Cooperation Council Free Trade Agreement (Korea-GCC FTA) will be concluded as early as possible.

7. Meanwhile, Assistant Foreign Minister Sameeh shared his prospects and views on the rapidly changing situation in the Middle East, and Deputy Minister Choi explained the situation on the Korean Peninsula following the recent series of provocations by North Korea.

8. This policy consultation served as an opportunity to regularize the meeting as they agreed to hold the next one in Kuwait next year. It was also an opportunity for Korea to review bilateral issues and establish the foundation for strengthening the cooperative relations with Kuwait, which has strategic and economic importance in the Middle East.