German-Arab Chamber of Industry and Commerce (GACIC) Secretary General Abdulaziz Al-Mikhlafi on Friday praised Kuwait's investments in Germany since 1970s.
In a statement to KUNA on the sidelines of the Arab-German Energy Forum, Al-Mikhlafi said that the Kuwait-German relations are strong, deeming them as "distinguished".
He added Kuwait's investments here are highly appreciated by the German's government and private sector as well, indicating Kuwait has been investing in Germany since 1970s.
Asked about Kuwait's participation in the forum, he said: "We know that Kuwait has major energy projects and its participation on behalf of the Arab countries stresses the importance of Arab-German cooperation." Al-Mikhlafi affirmed that the German companies are interested in energy in the Arab world, noting that the accelerated development of Germany's economy and the increase of Arab-German trade exchange prompted the German companies to search for new and sustainable markets in the Arab countries.
He pointed out that the GACIC aims also at exchanging expertise and technology and strengthening cooperation in the domain of energy.
The forum started Thursday with the participation of 500 businessmen, investors, experts, and decision makers from Germany and the Arab world.
According to Kuwait Chamber of Commerce and Industry, the total size of Kuwait's investments in Germany is estimated at euro 20 billion.