Kuwait an Important Source of Crude Oil for China

Source: KUNA 10/14/2012, Location: Middle East

Chinese diplomat highlighted on 14 October 2012 the importance of Kuwait's role as China's official oil provider for many decades, praising trade integration achieved by the two countries in the past years.

Chinese Foreign Ministry representative, Ambassador Chen Mingming told Kuwait News Agency (KUNA), on the sidelines of the preparatory meeting for Foreign Ministers of participating countries in the First Asia Cooperation Dialogue (ACD) summit, "partnership between Kuwait and China is good on all levels." The Ambassador stressed on the importance of Kuwait's role in supplying crude oil to China in light of the rapid growth and high demand for energy, pointing out that governments of both countries have launched joint ventures in the field of oil production.

On his assessment of the closing statement, which is scheduled to be released after the ministerial meeting for the summit, Mingming said, "the final document forms an important step in the start of the second decade of the forum", stressing that it was comprehensive and of great interest of participating delegations. The Chinese diplomat stressed on the effectiveness of the Asia Cooperation Dialogue forum in facing financial crisis, adding that the forum in general serves as a platform for the exchange of views on how to overcome financial crisis and prevention.

Kuwait and China both have strong trade and economic relations, as Kuwait holds more than 20 Chinese companies operating in various fields contribute to the implementation of multiple projects within different sectors, at a time where trade volume between the two countries reached 5.8 billion dollars in 2010, as China is one of the largest oil and liquefied gas importing countries.

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