Trade finance in Kuwait: A springboard for successful diversification - ESCWA

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Trade finance in Kuwait: A springboard for successful diversification

Country: State of Kuwait

Publication Type: Information material

Publication Subject: Arab Society: A Compendium of Social Statistics

Cluster: Shared Economic Prosperity

Focus Area: Trade & regional connectivity

Initiatives: Transport and trade connectivity

SDGs: Goal 17: Partnerships for the Goals

Keywords: Economic integration, International trade, Macroeconomics, Export development

Trade finance in Kuwait: A springboard for successful diversification

June 2022

Trade finance remains unable to fully serve the interests of Kuwait in its global and regional integration through non-oil export growth. The COVID-19 pandemic undoubtedly represents an unprecedented upheaval in the global economy and global trade. Yet, it can also be considered an opportunity for Kuwait to achieve the diversification outcomes desired and expressed in its national vision. Facilitating non-hydrocarbon fuel-based trade is a strategic priority, and supporting this trend can not only help achieve the diversification outcomes desired but can also lead to the revitalization of the support of Kuwait’s banks and other financial institutions to international commerce and trade. Providing the private sector with suitable trade finance to increase its engagement in global trade can bear good fruit in the diversification process and contribute to achieving the main objective of the Kuwait Vision 2035.

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