... And Participated in the 'Food Security and Sea Lanes' Meeting
Yaqoub Al-Sayed Yousef Al-Rafai participated in a high-level meeting on food security and sea lanes, emphasizing the importance of the Strait of Hormuz and Kuwait's efforts to strengthen supply chains.
Translated by Qiyas from النهار — Original source
Minister of Finance Dr. Yaqoob Al-Sayed Yousef Al-Rafai participated today in the high-level ministerial meeting titled “Food Security, Strategic Sea Lanes, and Solutions to Address Crises,” organized by the World Bank Group in collaboration with the United Nations Office for Project Services (UNOPS), as part of Kuwait’s participation in the Annual Meetings of the Boards of Governors of the World Bank Group and the International Monetary Fund, held in Bangkok, Kingdom of Thailand, from October 12 to 18, 2026. During his remarks, he emphasized the importance of the Strait of Hormuz as a vital passage whose role extends beyond the transport of energy supplies to include food, fertilizers, and essential goods. He noted that disruptions to navigation through the strait affect supply chains, shipping costs, and food security, thereby increasing economic pressures, particularly on developing countries reliant on imports. He outlined Kuwait’s efforts to address these challenges, including taking emergency measures to ensure the continuity of supply chains, enhancing coordination between the public and private sectors, cooperating with the Kingdom of Saudi Arabia and the Sultanate of Oman to provide alternative maritime routes, supporting shipping costs for certain essential imports, removing logistical bottlenecks, and strengthening strategic food reserves.
