Piyush Goyal Engages with Kuwait and UAE to Address Trade Disruptions Amid West Asia Crisis
West Asia crisis: Piyush Goyal meets Kuwait, UAE to restore trade, energy flows
The Economic TimesImage: The Economic Times
India's Commerce and Industry Minister Piyush Goyal has held discussions with counterparts from Kuwait and the UAE to address significant disruptions in trade and energy supplies caused by recent conflicts in West Asia. The focus is on restoring supply chains and ensuring food security for Kuwait amidst ongoing tensions.
- 01Piyush Goyal met with Kuwaiti and UAE ministers to discuss trade disruptions.
- 02India aims to assist Kuwait with food security amid supply chain issues.
- 03The joint US-Israel attack on Iran has severely impacted trade flows.
- 04Bilateral trade with Gulf Cooperation Council (GCC) members reached USD 178 billion in 2024-25.
- 05Efforts are being made to restore smooth trade and energy supplies in the region.
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On Friday, Piyush Goyal, India's Commerce and Industry Minister, conducted virtual meetings with Osama Khaled Boodai, Kuwait's Minister of Commerce, and Thani bin Ahmed Al Zeyoudi, UAE's Minister of Foreign Trade, to address severe disruptions in trade and energy supplies stemming from the recent US and Israeli military actions against Iran. Goyal expressed India's readiness to assist Kuwait in resolving supply chain issues, particularly concerning food security. Both ministers underscored the importance of dialogue and diplomacy in restoring trade flows. Goyal also acknowledged the UAE's proactive logistics measures, including opening alternate routes for trade. The discussions come as the Gulf Cooperation Council (GCC) members, including Kuwait and the UAE, are vital trading partners for India, with bilateral trade amounting to USD 178 billion in 2024-25. The ongoing conflict has strained supply chains, particularly affecting sectors like petroleum, chemicals, and pharmaceuticals, necessitating coordinated efforts to ensure smooth trade operations.
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The discussions aim to restore trade and energy flows, which are crucial for Indian exporters and the economy, particularly in sectors affected by the disruptions.
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