Subject - Foreign Trade and Business in Kuwait. Syllabus:
- Introduction to the State of Kuwait (the Middle East).
- Kuwaiti economy.
- Doing Business in Kuwait City
- Business Opportunities in Kuwait
- Foreign Trade of Kuwait.
- Foreign Direct Investment (FDI) in Kuwait
- Market access
- Case Study: diversification of Kuwaiti Petroleum industry.
- Arab Fund for Economic and Social Development
- Kuwait Fund for Arab Economic Development
- Introduction to Arabic
- Business Plan for Kuwait
- Nasser Al Kharafi
- Shaikha Al Bahar
- Jawad Ahmed Bukhamseen
- Maha Al-Ghunaim
Objectives of the subject “Doing Business in the State of Kuwait”:
- To analyse the Kuwaiti economy and foreign trade
- To evaluate business opportunities in the State of Kuwait
- To explore Kuwait's trade relations with the student's country
- To know Kuwait's Free Trade Agreements (FTAs)
- To examine the profile of Kuwaiti businesspeople
- To know the importance of Kuwaiti funds for development
- To develop a business plan for the Kuwaiti market
Sample of the subject - Business in Kuwait:
Subject Description: International Trade and Doing Business in Kuwait:
The State of Kuwait:
- The most populated region is the capital, Kuwait City.
- Besides being
the economic and commercial centre of Kuwait, Kuwait City is a major oil and petroleum products production port.
- Borders of Kuwait: Iraq and Saudi Arabia.
- Abolition of slavery in Kuwait: 1949
- Independence from the United Kingdom: 1961
- The population of Kuwait: 4 millions of people
- Area: 17,820 square kilometres
- Kuwaiti official language: Arabic
Religion in Kuwait
- Islam Sunni is the main religion of Kuwait
- The main school of Islamic Jurisprudence is Maliki
Kuwait belongs to the Arab Economic Area of the Islamic Civilisation.
The economy of Kuwait.
- Kuwaiti economy is as small, wealthy, and open (GDP was 149,000 dollars).
- The vast reserves of petroleum are the pillar of the Kuwaiti economy (petroleum and its derivatives generate 95% of exports the State of Kuwait).
- The State of Kuwait produces an average of 2.6 million barrels a day.
- Proven natural gas reserves of the State of Kuwait are 1% of the world reserves.
- In the non-petrol sector, the main activities are desalination, food processing, building materials, plastics, cement, and metal products.
- Kuwaiti services sector represents about 34% of GDP. Kuwait Stock
Exchange is the third largest in the Middle East (behind Egypt and Saudi Arabia).
- Commercial distribution sector has grown significantly in recent years (malls).
- Currency: Kuwaiti Dinar (KWD)
Foreign Trade of Kuwait.
- The main products of Kuwaiti
exports are petroleum and oil products and fertilizers
- The main destinations of Kuwaiti exports are Japan 19.9%, South Korea
17 %, Taiwan 11.2%, Singapore 9.9 %, US 8.4%, the Netherlands 4.8%, and China
- The main products imported from the State of Kuwait products are food, building materials, cars and parts, and clothes
- The main origins of Kuwaiti imports are the US (12.7%), Japan (8.5%), Germany (7.3%), China (6.8%), South Korea, Saudi Arabia, Italy, and the United Kingdom.
Kuwait has Free Trade Agreements (FTA) as a member of the Gulf Cooperation Council (GCC) with China, Korea, Australia, the European Free Trade Association (EFTA), New Zealand, Thailand, and the MERCOSUR.
- The European Union-Gulf Cooperation Council (GCC)
- India-Gulf Cooperation Council (GCC)
- Australia-Gulf Cooperation Council FTA
- Trade Preferential System among the Member States of the Organisation of Islamic Cooperation (TPS-OIC)
Regional Institutions (Kuwait).
- Arab League
- Summit of South American-Arab Countries (ASPA)
- Asia-Middle East Dialogue (AMED)
- Islamic Development Bank
- Economic and Social Commission for Western Asia (ESCWA)
- Organisation of Islamic Cooperation (OIC)
- Arab Gulf Programme for United Nations Development Organisations (AGFUND)
- Asia Cooperation Dialogue (ACD)
- United Nations (UN)
- World Trade Organisation (WTO)
- World Bank (WB)
- International Monetary Fund (IMF)
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