81% of Kuwait's exports to Iraq by 12 million dinars, and the state is considering the privatization of the oil services sector

81% of Kuwait's exports to Iraq by 12 million dinars, and the state is considering the privatization of the oil services sector

Jul 13, 2016



Kuwait «Quds Al-Arabi»: revealed the Ministry of Trade and Industry in Kuwait that the total Kuwaiti exports during April / May last reached about 19 million Kuwaiti dinars acquired Arab states to 75 percent of which about 14 million dinars, while acquired the rest of the world 25 percent ( US dollar equals 0.32 dinars).

The ministry said in published that Iraq accounted for 81 percent and by 12 million dinars of the total Kuwaiti exports to Arab countries of origin.

It reported that Italy was at the forefront of the world to source $ 4.1 million and by an estimated 29 percent of the total exports of the countries of the world.

She explained that the main exporting material to Arab countries during the month included paper bags and glass fiber Plastic, dairy products as well as insulating materials and plastics, oils and sweets, while The most important exporting materials for the rest of the world in pesticides and materials polyethylene and silicon Aloawit Spirit and animal fats.

It showed newsletter: low numbers of import licenses issued during April / May last by 12 percent compared to what was issued during the month of March last, where gross was about 1559 license referring to the decline in the number of import licenses by 7 percent compared to what was released in the same period last year.

It explained that the general import licenses amounted to 1060 license, while the number of temporary import licenses totaled 499 licenses totaled the number of new public import licenses some 148 licenses during the month, compared to 223 licenses in the same period last year, a concrete and down an estimated 34 percent.

The (trade) in its report that it was renewed 912 licenses during the April / May last exchange for 944 licenses in the same month of 2015 and a decrease of 3 percent, pointing to the issuance of 499 temporary licenses during the month and down about 2 percent compared to the same month of 2015.

Regarding stamp precious metals operations it reported the Ministry of Commerce that it marked the nearly 9.1 tons of gold during the April increase of 3 percent, compared with 8.1 tons for the same month last year.

She added that the silver amounts that have been hallmarking during the month stood at 178 kg, up 58 percent compared with 113 kg for the month of April 2015 as well as higher amounts of valuable stones, which have been tested and evaluated by about 155 pieces compared with 90 pieces for 2015.

They pointed to the many business indicators that reflect the situation in the national economy, these indicators may be significance directly on the state of the economy, such as the granting of licenses for commercial investments.

She pointed to restrict the treatment of 423 companies in the commercial register by April / May last while the number of brands that have been deposited treatment amounted to 827 and an increase of 20 percent.

As for the commercial agencies it stated the existence of an application for registration of a 61 month trading agency marked down an estimated 71 percent compared with the same month of 2015.

It reported that the total number of commercial licenses to the corporate sector during April / May last reached 552, compared with 327 a license in the same month of 2015, while the total number of branches of companies licenses totaled 211, compared with 194 licenses a license in the same period last year.

It reported that the total commercial licenses for the sector individuals that have agreed to issued during the month amounted to about 481 licenses in various economic activities indicating that the provinces around me and Ahmadi had come in first place in terms of the number of licenses depending on the geographic distribution similar by an estimated 22 percent of the total licenses.

She explained the Ministry of Commerce in its report that it provided many of the subsidies for construction materials is estimated at KD 23 million were paid during the month of March last drop of 12 percent from February last year.

The Ministry of Trade and Industry is supporting the trade and economic activities in the country and supervise the provision of goods, materials and services as well as supervision of the companies, shops and commercial business registration in accordance with laws and regulations.

Meanwhile, Undersecretary of Kuwaiti Ministry of Finance Khalifa Hamada said Tuesday that his country is considering the privatization of the local oil services sector, but these plans will not include the production capacity of the country.

He said in a press conference in Kuwait City that the Ministry of Finance is now considering with the Kuwait Petroleum Corporation oil sectors and services that can be privatized.

He added that the privatization «going to service companies and some side jobs in the oil sector and not for production.»

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