Spain and Kuwait enjoy a strong relationship that begins at the highest level between His Majesty King Juan Carlos I of Spain and His Highness Sheikh Sabah Al Ahmad Al Jaber Al Sabah, Emir of
Kuwait. In business, Spain is displayed profusely in the wide presence of Spanish franchises in fashion like Zara, Massimo Dutti, Mango, Oysho, Pronovias, Rosa Clara, Stradivarious, Women 's Secret,
Bimba & Lola, Nanos, Piel de Toro, etc, in the most important and iconic malls of the country. Similarly various Spanish companies have established in Kuwait with the diplomatic support of Spain
and the open door policy of the local authorities. Companies like OHL in transport infrastructure, HERA in environmental solutions, INDRA in telecommunications and technology, INECO in
consulting and ISOLUX in the electricity sector have won major projects to develop the country's economy. Other companies like FCC are also present in the country bidding on construction projects or
renewable energy and water treatment as Aqualia.
Although it is a geographically small country with a population of just 3.6 million people, Kuwait has a purchasing power parity 30% higher than the Spain with €28,978 per capita in Kuwait
against the Spanish €21,845 according to IMF data. Kuwaiti public debt stands far below the Spanish and the country boasts international investments of nearly $300 thousand millons, ranking sixth in
the world, through its sovereign wealth fund Kuwait Investment Authority (KIA).
While Spain´s registered negative growth and in the midst of one of the greatest global financial crisis, Kuwait was still growing steadely at a rate of 5 percent. However, the economy of the
Gulf country depends almost entirely on oil production. With 10 percent of global and a plan in place to increase production to 4 million barrels a day by 2020, the Kuwaiti government approved a
five-year plan for economic diversification in 2010 equipped with 94.5 billion euros to reduce this dependence on oil and attract foreign investment encouraging private sector participation in the