The state of Kuwait is located in the Middle East, on the northen side of the Arabian Peninsula, in the Persian Gulf. Kuwait has is an area of 17,818 km², with Saudi Arabia to the south and Iraq both north and west. The country has a population of 4.6 million people and a GDP of $141 billion at the end of 2018 (source: IMF, Ministry of Economy and Finance, 2017).
The Kuwaiti economy is mainly based on its oil production, (the 9th largest oil producer in the world with 2.7 million barrels per day and the 7th world reserve), and on the hydrocarbon sector for which it is the 5th largest reserve in the world. The country economic performance is also influenced by services and the real estate sector (source: Direction Générale, Trésor, UNDP).
The main export and import market for Kuwait is Asia, with China beeing at the same time its main customer and supplier. France also has a significant position on the Kuwaiti market, in particular in aeronautics, through the sales of aircrafts and spacecrafts. France has something like twenty companies based in Kuwait, working in sevral different areas such as textiles, chemicals, perfumes and cosmetics, industrial and agricultural machinery as well as agri-food products (source: France Diplomatie, Trésor, Direction Générale).
In order to perfectly meet its customers’ needs on the Kuwaiti market, Simon Associés has developed privileged relations with economic and legal partners locally.