French Technology 2007 in Kuwait March 18, 2007

For the last 10 years, France has figured around the 10th rank among the suppliers of Kuwait (357 million Euros of exportations in 2005) with a market share of 3% judged unsatisfactory by both sides. However a significant increase – amounting to +15% on an annual basis - has been registered in the last 3 years.

Since the meeting of the Joint Economic Committee in November 2005, the official exchanges have multiplied, including the visit of Mrs Lagarde, the French Minister for Foreign Trade, to Kuwait in April 2006 with a delegation of 35 companies, the discussions of Mr Breton, the French Minister of Economy, Finance and Industry, and Mrs Lagarde with their counterparts during the visit to France of HH the Kuwait Prime Minister in September 2006. During these discussions, the reinforcing of the bilateral economic relationship has been confirmed at the top of the shared priorities. Finally, by the end of 2006, France welcomed HH the Emir of Kuwait for his first official visit in Europe since his access to the throne.

Within this background, many initiatives has been taken: the French Institute for Petroleum and Kuwait Petroleum Corporation signed in April 2006 a memorandum of understanding for joint R&D projects, the French Agency for Development (AFD) has been invited by the Arab Funds to attend their reunion which will take place in February 2007 in Kuwait, a seminar about French budgetary procedures was organized in Kuwait from 25 to 28 November 2006, the Kuwait Vice Minister of Interior conducted a technical mission in France in November 2006 on the security procedures and the Vice Minister of Public Works followed him in December, at the head of a delegation of 10 experts, to study the methods of management and execution of big projects, whereas bilateral aeronautical consultations will be held in Kuwait in March 2007. And, in Kuwait, the French Business Council was founded in April 2006

On the business side, French Companies ( BNP-Paribas, Air Liquide) have been among the first to take advantage from the recent incentives to attract FDI with very significant investment projects.

Official Website: http://www.francetech-kuwait.com/