Saudi Arabia Plans Promotion Campaign in Kuwait

The Saudi Export Development Authority’s pavilion at an exhibition (Export Development Authority website)
The Saudi Export Development Authority’s pavilion at an exhibition (Export Development Authority website)
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Saudi Arabia Plans Promotion Campaign in Kuwait

The Saudi Export Development Authority’s pavilion at an exhibition (Export Development Authority website)
The Saudi Export Development Authority’s pavilion at an exhibition (Export Development Authority website)

The Saudi Export Development Authority is scheduled to begin a promotion campaign in Kuwait from September 29 until October 1 as part of a broader strategy to enhance national service export opportunities through targeted market access tours.
According to the Authority, the tour will feature a series of visits for leading national companies across various sectors, including logistics services, communications and information technology, consulting, and medical services.
These companies will showcase their offerings to both government and private entities in Kuwait, fostering increased trade between the two nations.
The tour is also expected to bolster the presence of Saudi non-oil products and services in the Kuwaiti market, where Saudi exports exceeded 3.7 billion Saudi rial ($986.36 million) in the first half of 2024.
Saudi Exports spokesman Thamer Al-Meshrafi said that through the tour in the Kuwaiti market, the Authority aims to establish links between the Saudi exporters and the Kuwaiti importers and facilitate mechanisms of the non-oil exports to Kuwait.
Al-Meshrafi added that the overall Saudi service experts in 2023 hit 182 billion riyals ($479 million), rising by 40% as compared to the previous year.
Several prominent national companies from the services sector will participate in the tour alongside representatives from four government agencies: the Zakat, Tax, and Customs Authority; the Digital Government Authority; the Transport General Authority; and the Saudi Contractors Authority.

 



Türkiye Receives Waiver for Gas Payments to Russia from Gazprombank Sanctions

A view shows a board with the logo of Gazprombank at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 5, 2024. REUTERS/Anton Vaganov/File Photo
A view shows a board with the logo of Gazprombank at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 5, 2024. REUTERS/Anton Vaganov/File Photo
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Türkiye Receives Waiver for Gas Payments to Russia from Gazprombank Sanctions

A view shows a board with the logo of Gazprombank at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 5, 2024. REUTERS/Anton Vaganov/File Photo
A view shows a board with the logo of Gazprombank at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 5, 2024. REUTERS/Anton Vaganov/File Photo

Türkiye has received an exemption for gas payments to Russia after the United States imposed sanctions on Gazprombank, Turkish Energy Minister Alparslan Bayraktar revealed in response to a question from Reuters.

The US imposed new sanctions on Russia's Gazprombank in November, creating an obstacle for buyers of Russian gas, which had been using the bank to make payments. They have since been seeking clarification and exploring other ways to pay.

Türkiye imports almost all its gas requirement and Russia is the top supplier, providing more than 50% of the country's pipeline imports.

Ankara's pipeline gas imports from Russia stood at 21.1 bcm last year.

Türkiye had requested an exemption in discussions with US officials so that it can continue paying for Russian natural gas imports via Gazprombank.

The US on Thursday also granted a waiver to Hungary, which mainly relies on Russian oil and gas.