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Japan and Kuwait deepen business ties through strategic Diwaniya gathering

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Japanese Ambassador to Kuwait Mukai Kenichiro poses with the Kuwaiti business men

KUWAIT CITY, May 19: Japanese Ambassador to Kuwait Mukai Kenichiro organized the ‘Japanese-Kuwaiti Business Diwaniya’ at his residence, with Assistant Foreign Minister for Asian Affairs Ambassador Samih Jawhar Hayat, a group of Kuwaiti businesspersons, and representatives of the public and private sectors in attendance. The meeting aimed to strengthen the economic and technological partnerships between Kuwait and Japan and expand the horizons of cooperation in various fields.

Mukai expressed his pride and gratitude for the presence of the guests, stressing that the Diwaniya is a strategic opportunity to revive the Japanese-Kuwaiti Business Committee at the governmental level and exchange views on the future of trade and investment cooperation between the two countries. He pointed out that the current phase is a turning point in economic relations between the two countries, calling for strengthening cooperation in sustainable development, social responsibility, and the green economy. He affirmed that Japan is one of the largest global investment markets, with capital investments reaching approximately $700 billion in 2023. He urged the Kuwaiti businesspersons to explore the available opportunities, particularly through the Kansai-Osaka Expo, which was launched in April and will continue for six months.

He revealed the Expo showcases advanced Japanese technologies, such as room-temperature hydrogen production devices, carbon dioxide capture and emission technologies, and industrial fuel production. He said these technologies are plausible solutions for the realization of Kuwait’s goal to achieve carbon neutrality by 2050. He also cited the perovskite solar cells developed by Panasonic, which can be installed on windows and are currently used in Toyota cars that charge while driving, making them ideally suited to the sunny environment in Kuwait. In the healthcare sector, he highlighted the regenerative medicine technologies using IPS cells, which offer advanced therapeutic capabilities, calling for investment in them and their use within the healthcare system in Kuwait. He also talked about the contributions of major Japanese companies, such as Mitsubishi, Toshiba and JERA, to infrastructure and energy projects in Kuwait.

The Ambassador with some of the Kuwaiti entrepreneurs

He asserted that these projects are not merely commercial activities, as they are rather contributions to improving the quality of life. He was quick to add that these companies are facing challenges, such as the slow bidding process, delayed procedures, and lack of focus on reducing emissions. He revealed the Japanese government is engaged in a serious dialogue with the Kuwaiti side to address these challenges, calling on decision-makers to support these efforts to improve the joint business environment. He affirmed the embassy’s readiness to provide all forms of support to Kuwaiti businesspersons, wishing to introduce Japanese products and technologies to the local market. He is hoping that Kuwait will become a regional center for adopting Japanese innovations and exporting them to the Gulf states, especially Saudi Arabia and the United Arab Emirates (UAE).

On the other hand, Mubarak Al-Sayer, Executive Board Member of Al-Sayer Group, presented the history of the long-standing partnership with Japan, dating back to 1954, when the group became the first distributor of Toyota vehicles in the Middle East, thanks to his late father, Nasser Mohammed Al-Sayer. Al-Sayer explained that this relationship has evolved into a strategic partnership spanning more than seven decades, making Al-Sayer Group the largest importer of Japanese goods in Kuwait, including major brands like Toyota, Lexus, Hino, Hitachi, Kawasaki, Yokohama, Akai, Sakai, JCB, and Canon.

Mukai Kenichiro delivers a speech

He asked the Japanese government to facilitate entry for Kuwaitis by granting visas upon arrival, stressing that the Kuwaiti people’s passion for Japan is growing in the fields of education, entertainment, and commerce. He affirmed Al-Sayer Group’s commitment to continuing its longstanding partnership with Japan for future generations, stating that “this partnership is not only a legacy we cherish, but a future we are working hard to consolidate.

By Fares Ghaleb
Al-Seyassah/Arab Times Staff

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Kuwait, India Unite to Fight Money Laundering with New Accord

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Kuwait, India Unite to Fight Money Laundering with New Accord

Head of the Kuwaiti Financial Intelligence Unit, Dr. Hamad Al-Mekrad, with the representative of the Indian Financial Intelligence Unit, Manish Herat, after signing the Memorandum of Understanding.

KUWAIT CITY, July 9: Kuwait’s Financial Intelligence Unit and India’s Anti-Money Laundering Bureau signed on Tuesday a memorandum of understanding (MoU) aiming to beef up cooperation on information exchange and financial intelligence efforts. In a statement to KUNA, the Kuwaiti financial watchdog’s chief Hamad Al- Mekrad said the deal, signed after a gathering of global financial watchdog body Egmont Group, is a testament to Kuwait and India’s collective commitment to boost transparency and cooperation, based on the principles and guidelines of the global financial organization of intelligence units.

The agreement is a major step forward towards clamping down on financial crime at a time of growing challenges that require greater cooperation and information exchange. The level of cooperation between the Kuwaiti and India financial intelligence units has been on an upward trajectory even before the new deal came to fruition, added the official, expecting the agreement to be instrumental in simplifying the flow of bilateral information exchange, he underlined.

Al-Mekrad noted that the priority now is to expand the scope of international cooperation, enhance the efficiency of information exchange under the highest standards, strengthen technical analysis capabilities, and build partnerships with counterpart units, thus contributing to protecting the national and global financial system from any illicit exploitation.(KUNA)

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Trump’s tariffs may cast a pall over Rubio’s first official trip to Asia

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US President Donald Trump, right, puts his hand on shoulder of Secretary of State Marco Rubio, center, as Attorney General Pam Bondi, left, looks on during a cabinet meeting at the White House on July 8, in Washington. (AP)

WASHINGTON, July 9, (AP): Sweeping tariffs set to be imposed by President Donald Trump next month may cast a pall over his top diplomat’s first official trip to Asia this week – just as the US seeks to boost relations with Indo-Pacific nations to counter China’s growing influence in the region. Trump on Monday sent notice to several countries about higher tariffs if they don’t make trade deals with the US, including to a number of Asian countries.

The move came just a day before Secretary of State Marco Rubio planned to depart for a Southeast Asian regional security conference in Malaysia. Top diplomats and senior officials from at least eight countries that Trump has targeted for the new tariffs, which would go into effect on Aug. 1, will be represented at the annual Association of Southeast Asian Nations Regional Forum in Kuala Lumpur that Rubio will attend on Thursday and Friday.

State Department officials say tariffs and trade will not be Rubio’s focus during the meetings, which the Trump administration hopes will prioritize maritime safety and security in the South China Sea, where China has become increasingly aggressive toward its small neighbors, as well as combating transnational crime.

However, Rubio may be hard-pressed to avoid the tariff issue that has vexed some of America’s closest allies and partners in Asia, including Japan and South Korea, which Trump says would face 25% tariffs absent a deal. Neither of those countries is a member of ASEAN but both will be represented at the meetings in Kuala Lumpur. Rubio’s “talking points on the China threat will not resonate with officials whose industries are being battered by 30-40% tariffs,” said Danny Russel, vice president of the Asia Society Policy Institute and a former assistant secretary of state for East Asia and the Pacific during the Obama administration.

“In fact, when Malaysian Prime Minister Anwar Ibrahim last week said ASEAN will approach challenges ‘as a united bloc’ – he wasn’t talking about Chinese coercion, but about U.S. tariffs,” Russel said. Among ASEAN states, Trump has so far announced up to 40% tariffs on at least six of the 10 members of the bloc, including the meeting host Malaysia, which would face a 25% tariff mainly on electronics and electrical product imports to the United States.  

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Southeast Asian foreign ministers meet as US tariffs loom

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From left to right, Indonesia’s Foreign Minister Sugiono, Lao Minister for Foreign Affairs Thongsavanh Phomvihane, Singapore’s Foreign Minister Vivian Balakrishnan, Thailand’s Foreign Minister Maris Sangiampongsa, Vietnam’s Foreign Minister Bui Thanh Son, Malaysia’s Foreign Affairs Minister Mohamad Hasan, Philippine Foreign Secretary Theresa Lazaro, Brunei’s Minister of Foreign Affairs Erywan Yusof, Cambodia’s Foreign Minister Prak Sokhonn, Myanmar Ministry of Foreign Affairs representative Kyaw Nyun Oo, East Timor Foreign Minister Bendito dos Santos Freitas and ASEAN’s Secretary-General Kao Kim Hourn pose for a group photo during a plenary session of the Association of Southeast Asian Nations (ASEAN) Foreign Ministers’ meeting at the Convention Centre in Kuala Lumpur Malaysia on July 9. (AP)

KUALA LUMPUR, Malaysia, July 9, (AP): Malaysian Prime Minister Anwar Ibrahim warned Wednesday that global trade is being weaponized as Southeast Asia’s foreign ministers opened an annual meeting while facing the looming threat of U.S. trade tariffs. The threat of US tariffs has jolted the Association of Southeast Asian Nations, a 10-member bloc that includes some of the world’s most trade-dependent economies.

Six ASEAN members are among the 14 countries that could see duties on their exports to the US skyrocket on Aug 1. Launching the Association of Southeast Asian Nations foreign ministers’ meeting, Anwar said the world is now witnessing an era where “power unsettles principle” and “tools once used to generate growth are now wielded to pressure, isolate and contain.”

Without mentioning the US by name, he again urged ASEAN to work together to respond to trade threats. “Our cohesion must not end at declarations,” he said, calling for members to increase intra-ASEAN trade, invest in regional integration, and reduce strategic dependencies on external powers. “This is no passing storm,” he said. “It is the new weather of our time.”

Trump first announced tariffs in April, but then delayed them for 90 days to allow for deals. On Tuesday, he announced new tariff with rates of between 25%-40% on 14 countries, which will go into effect Aug. 1 unless new deals are struck. He also threatened to increase tariffs if any countries retaliate. Many ASEAN members have launched bilateral talks with the U.S., but officials have said they plan to hold an ASEAN-U.S. summit later this year to seek a common position.

So far, only Vietnam has secured a deal, bringing down its tariffs from 46% to 20%. The list threatens 36% tariffs for Thailand and Cambodia, 32% for Indonesia, 25% for Malaysia, and 40% for Laos and war-torn Myanmar. In addition to confronting trade fallout, the bloc faces mounting internal challenges. The ongoing civil war in Myanmar and a border dispute between Thailand and Cambodia are also on the agenda.

The gathering in Malaysia will be immediately followed by a series of critical meetings with ASEAN’s major trade partners, including the United States, China, Japan, Russia, India, and the European Union, scheduled for Thursday and Friday. U.S. Secretary of State Marco Rubio, who last week cancelled trips to Japan and South Korea, will arrive Thursday for the talks on his first visit to Asia. Others visiting foreign ministers include China’s Wang Yi and Sergei Lavrov of Russia. Analysts said these talks will test ASEAN’s ability to assert its voice amid escalating geopolitical tensions.   

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