Germany, Kuwait move to boost economic ties

Kuwait FlagBerlin - Germany and Kuwait pledged Friday to step up efforts to strengthen their economic ties in the face of the world financial crisis that threatens to push the global economy into a sharp and protracted downturn.

German Minister for the Economy Michael Glos and Kuwait Economics Minister Al-Abdullah met in Berlin to consider moves for bolstering the economic ties between the two nations.

"During times of extreme international market turbulence it is important that we discuss with our partners from Kuwait and the Gulf states, how we can strengthen our common economic relations," said Glos.

Oil-rich Kuwait is one of Germany's key trading partners in the Arab world. However, Kuwait has also introduced a program aimed diversifying its economy away from the energy sector, including constructing a new city as well building new nuclear reactors.

Berlin officials and the Kuwaiti Economics Minister, who headed up an economic delegation to Germany, agreed to a series of areas of co-operation such as professional training as well as in the fields of energy and information technology. (dpa)

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