Dr. Mohammad Al-Afasi's Kuwait hopes

Kuwaiti Deputy Prime Minister and Minister of Social Affairs and Labour Dr. Mohammad Al-Afasi on Wednesday expressed that Kuwait's keenness on further creating employment and reducing poverty in Arab countries. Speaking to Kuwait News Agency (KUNA) and Kuwait TV on the sidelines of the 15th Asia and the Pacific Regional Meeting of the International Labour Organization (ILO) in Kyoto, western Japan, Dr. Al-Afasi said, "Our country has contributed USD 500 million to the Small and Medium-sized Enterprises (SEMs). Arab fund, which was established two years ago with an aim to improve the living standards and tackle unemployment in Arab nations." The SMEs Arab fund was initiated by His Highness the Amir of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah during the Arab economic summit held in Kuwait in January 2009 with a capital of USD 2 billion. Kuwait was the first country to make a contribution to the fund, offering 25 percent of its total capital. The deputy premier also highlighted Kuwait's constant support to developing countries through the Kuwait Fund for Economic Development (KFAED), of which loans have totaled more than USD 14.5 billion, equivalent to 1.3 percent of Kuwait's Gross National Product (GNP) and twice the rate set internationally. "Our contribution and humanitarian support to developing countries are at the level of the highest anywhere in the world," he said, renewing Kuwait's commitment to take an initiative in providing humanitarian assistance and promoting employment in Arab and other regions. Meanwhile, Dr. Al-Afasi attached great importance to the ILO's Kyoto meeting, saying it gives an opportunity to exchange views with leaders from other countries on efficient operations of Kuwaiti and Arab funds for measures to combat against unemployment, especially for young people, as well as poverty. According to the ILO, youth unemployment in the Arab region is "extremely high" at 27.2 percent in 2010. The average unemployment rate for young women was even worse at 41.5 percent. "The participants also consider how to tackle such problems through Asia's rising economic growth, which is much stronger than that of America and Europe. Kuwait, as a major political and financial contributor to the ILO's activities, is keen to further support Asia's growth that will result in employment creation and poverty eradication in this region," Dr. Al-Afasi said. At the four-day meeting that began Sunday, about 450 participants from 46 countries in Asia and the Pacific, and Arab states, such as government ministers, representatives of workers' and employers' organizations and academics, are discussing how employment, economic and social progress can be safeguarded in the face of the uncertain global economic outlook. Kuwaiti Ambassador to Japan Abdulrahman Al-Otaibi, the ministry's Undersecretary Mohammad Al-Kandari and other Kuwaiti officials also attend the meeting. The meeting focuses on coordinating macroeconomic, employment and social protection policies; supporting productive employment, sustainable enterprises and skills development and rights at work and social dialogue. As for cooperation with the ILO, Dr. Al-Afasi said Kuwait has continuously provided financial aid to the ILO programs. "Last month, we contributed USD 500,000 to support the ILO's Palestinian technical cooperation program targeting enhanced job creation, social dialogue and social protection efforts in Palestine. The funds reflect the continuing commitment of the Kuwaiti government to an effective partnership with the ILO in aid of critical job creation efforts." It marked Kuwait's third contribution to the ILO's activities in Palestine, bringing it to a total USD 2 million since December 2009. The ILO is the UN specialized agency dealing with work and work-related issues. It has a unique tripartite membership structure, under which governments, employers' and workers' organizations act as equal partners, making decisions representative of the real economy. The regional meeting is usually held every four years.