Kuwait and Portugal prepare for GCC-EU Business Forum

LISBON: Kuwait’s Ambassador to Portugal Hamad Al-Hazeem met with senior Portuguese economic figures to discuss preparations for Kuwait’s hosting of the 9th GCC-EU Business Forum, scheduled for November. Speaking to KUNA on Friday, Ambassador Al-Hazeem said he held talks with Armindo Monteiro, President of the Portuguese Business Confederation (CPB), during a meeting at the federation’s headquarters in Lisbon. The ambassador said the meeting reviewed a formal letter sent by the Kuwaiti Embassy inviting the Portuguese Business Confederation to participate in the upcoming forum, stressing the importance of the event and encouraging member companies and factories to actively engage.

Al-Hazeem emphasized that the 9th GCC-EU Business Forum will provide a significant opportunity to boost trade and investment cooperation between the Gulf Cooperation Council and the European Union. He also underlined the importance of further strengthening Kuwait–Portugal economic ties through increased trade visits and private-sector engagement, noting Kuwait’s growing commercial activity and private investment presence in the Portuguese market.

For his part, Monteiro welcomed Kuwait’s initiative to host the forum, describing it as a strategic platform to expand economic and trade cooperation between the GCC and the EU. He added that enhancing bilateral economic relations between Portugal and Kuwait would create new opportunities for Portuguese companies and deepen cooperation in sectors of mutual interest.

Monteiro explained that the Portuguese Business Confederation, established in 1974, is the country’s largest and most influential business federation, representing more than 150,000 companies and about 1.8 million workers — equivalent to 71 percent of Portugal’s GDP. He noted that the confederation, which is multi-sectoral and active nationwide, is the only Portuguese body participating in the European Social Dialogue and representing Portugal in leading international business federations. The GCC-EU Business Forum serves as a key platform for exchanging expertise, exploring trade and investment partnerships, and highlighting non-oil growth opportunities in the Gulf states in cooperation with European partners. — KUNA