India and Kuwait become strategic partners.

On December 22nd, in Kuwait, Indian Prime Minister Narendra Modi and the Emir of Kuwait, Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, agreed to upgrade bilateral relations to a strategic partnership.

Indian Prime Minister Narendra Modi (left) and Kuwaiti Emir Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah in Kuwait City on December 22. (Source: KUNA)

According to Arab News , during the historic first visit by an Indian Prime Minister to the Gulf nation in 43 years, the two countries signed four important agreements, most notably a Memorandum of Understanding on defense cooperation.

According to the Indian Ministry of External Affairs , this agreement will boost cooperation in the areas of defense industry, joint training, equipment supply, and research and development. In addition, the two sides reached agreements on sports, culture, and solar energy.

During the high-level talks, the two sides held extensive discussions on strengthening cooperation in various fields, from economics , trade, and energy to people-to-people exchanges.

Prime Minister Modi has invited Kuwaiti investors to explore investment opportunities in India, particularly in the energy, defense, pharmaceutical, and technology sectors.

Notably, Prime Minister Modi expressed support for Kuwait's "Vision 2035" and indicated a desire to strengthen cooperation with the Gulf Cooperation Council (GCC) through Kuwait's chairmanship.

The two-day visit was considered a significant turning point, opening up new prospects for cooperation and elevating bilateral relations to a new level after more than four decades.

Earlier, on December 18, in a statement regarding Prime Minister Modi's visit to Kuwait, the Indian Ministry of External Affairs affirmed that the two countries "share a traditional, close and friendly relationship, rooted in history and strengthened by strong economic and people-to-people ties."

India and Kuwait are each other's leading trading partners, with bilateral trade reaching $10.47 billion in the 2023-2024 fiscal year.

Kuwait is India's sixth-largest supplier of crude oil, meeting 3% of the South Asian nation's energy needs. Indian exports to Kuwait reached $2 billion for the first time, while investment by the Kuwait Investment Authority in India exceeded $10 billion.

The two countries officially established diplomatic relations in 1961. The Indian Rupee remained legal tender in Kuwait until 1961, a symbol of their long-standing economic and cultural ties.

Source: https://baoquocte.vn/chuyen-tham-lich-su-lam-nen-buoc-ngoat-an-do-kuwait-tro-thanh-doi-tac-chien-luoc-298387.html