UNCLAS KUWAIT 004519

SIPDIS

SIPDIS

STATE FOR NEA/ARPI SWALKER, LONDON FOR LTSOU

E.O. 12958: N/A
TAGS: PGOV PREL EAID EFIN KU WE GZ
SUBJECT: KUWAITI CHAMBER OF COMMERCE ON FOUNDATION FOR THE
FUTURE AND INVESTMENT IN PALESTINIAN TERRITORIES

REF: SECSTATE 189774


1. (U) Summary. In an October 19 meeting with Econ
Counselor, the Deputy Director General of the Kuwait Chamber
of Commerce and Industry (KCCI) welcomed the establishment of
the Foundation for the Future (reftel), looked forward to a
potential role for KCCI in the Foundation's efforts, and
explained that there was no indication of Kuwaiti private
sector investment in Palestinian territories other than
private property holdings by some Kuwaitis. End Summary


2. (U) On October 19, Econcouns, accompanied by Econoff, met
with Rabah Al-Rabah, Deputy Director General of the KCCI, a
non-government entity with close ties to the GOK, to discuss
the proposed Foundation for the Future (FFF) and solicit
Al-Rabah's insights on possible Kuwaiti private sector
investments in the Palestinian territories.


3. (U) Econcouns provided Al-Rabah a non-paper, based on
reftel points, with background information on the FFF and its
goals and objectives for the region, noting that an official
demarche to the GOK on the FFF would be forthcoming.
Al-Rabah was appreciative of the information and inquired
about the FFF's overall structure, functions, and
affiliation, if any, with Arab and foreign governments.
Econcouns addressed Al-Rabah's questions per reftel points
and offered to provide additional information as available.
Al-Rabah welcomed FFF's establishment and any potential role
the KCCI could play to advance the organization's interests,
including potential nomination of board members in
collaboration with the GOK.


4. (U) On possible Kuwaiti private sector investment in the
Palestinian territories, Al-Rabah noted that although some
Kuwaitis owned private property in the West Bank and Gaza,
KCCI was unaware of any specific Kuwaiti private sector
investment, adding that some Kuwaitis were eager to reclaim
lost property in the Gaza Strip following the Israeli
disengagement. He added that the European Union had
approached KCCI for bilateral cooperation on a proposed
Palestinian-EU Chamber of Commerce currently under
consideration.
LEBARON