Kuwait City: Doha Bank hosted a conference in Kuwait on developing economic and trade relationships between Asian economic powerhouses such as China and India and countries in the fast-growing GCC region. Titled “Synergetic Opportunities between Emerging Asia and the GCC”, the conference brought together regional and international experts from diverse fields.
The event was held at JW Marriott Hotel.
Dr R Seetharaman, Group CEO of Doha Bank, said. “Over the last two decades, the GCC States have experienced rapid economic growth, driven by oil and gas revenues and booming financial services and tourism sectors. This period also saw the region emerging as a major investment destination for infrastructure projects. To drive the next stage of growth, the GCC should look to integrate more closely with the Asian financial system to boost resilience and enhance its economic cooperation with countries such as China and India which have been fuelling the global growth engine. China, Hong Kong, Singapore and India had attracted significant foreign direct investment in 2014. India has consistently been among the top 10 trading partners of Kuwait. Kuwaiti investments in India are in excess of $ 2.5 billion. India’s growth is expected to be between 8 – 8.5 percent in FY 2016 and the consumer price inflation was at 5.1 percent in Jan 2015. The current account deficit for FY 2015 is expected to be below 1.3 per cent of GDP and the fiscal deficit target of 4.1 percent of GDP for FY 2015 will be achieved. The surge in growth in Indian economy will lead to increased trade and investments between India and GCC. ”
The Peninsula
