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Friday, 23 February 2024 11:23

Kuwait Market Open to Indonesian MSMEs

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Gross Domestic Product (GDP) per capita in Kuwait, according to World Bank data, reached USD 49,400 in 2022. This amount is equivalent to the purchasing power of Kuwaiti people, which is almost three times three times the average purchasing power of the world population. Economic growth and high purchasing power make Kuwait an attractive market for MSMEs from Indonesia. Quoted from Antara, Deputy Minister of Trade (Wamendag) Jerry Sambuaga believes that Kuwait can become a potential export market for Indonesia, because almost 95 percent of its domestic needs are supplied from abroad.

Chargé d'Affaires of the Kuwait Embassy to Indonesia, Abdullah Alfadhli, in a special interview with Voice of Indonesia on Thursday (15/02) in Jakarta said that the Kuwaiti Embassy in Jakarta and the Indonesian Embassy in Kuwait are working to open up opportunities for Indonesian MSMEs to enter the Kuwaiti market. “There is no doubt that coordination continues between Kuwait and the Republic of Indonesia in various sectors. We, the Kuwaiti embassy in Jakarta, as well as the Indonesian Embassy in Kuwait, are working seriously to open up opportunities for MSMEs and large industries. If synergy between the two countries is realized and workshops continue to be held for small business groups, there is no doubt (this) will open up opportunities for investors and small and medium businesses to enter Kuwait," explained Abdullah Alfadhli.

Abdullah Alfadhli emphasized that Kuwait is a market that is open to all. "The State of Kuwait is an open market, which always accepts all ethnic groups, especially brotherly countries to us like the Republic of Indonesia," continued Abdullah Alfadhli. However, the Kuwaiti Embassy in Jakarta gives some notes for Indonesian MSME products in order to be well accepted in the Kuwaiti market. “First of all, the product must well match the needs of the Kuwaiti market. In this context, Indonesia is working very seriously in developing the halal industrial sector. I personally participated in several halal exhibitions. The market for halal products is a leading market that is very well accepted by Kuwaiti people," concluded Abdullah Alfadhli to Voice of Indonesia.

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