Ministry of Commerce and Industry
 
Minister of Commerce: Mr. Ahmad Baqer Al-abdullah
( Website: www.mof.gov.kw )

The Ministry of Commerce was established by an Amiri Decree on January 28, 1963. Another Amiri decree was issued on December 5, 1965 changing the name of the ministry to that of Commerce and Industry. It remained as such until March 3, 1985 when the commerce portfolio was transferred to the Ministry of Finance and the industry portfolio was transferred to the Ministry of Oil.
 

The ministry has the following key functions and powers:

  1. To implement the Government policy on subsidising various items listed on the ration card, and other necessary goods not listed on the ration card, which are sold at fixed prices (as per the ministerial directives) such as construction materials (iron, sack and bricks).
     
  2. To control commercial companies and public shops according to laws and regulations; power to issue licenses to individuals and/or companies.
     
  3. To boost national exports and to strengthen Kuwait's commercial relations with other countries.

To minimise the adverse impact of inflation, the Ministry provides stored, strategic goods and main materials (rice, vegetable oils, milk powder, sugar, lentils and flour) that can fulfil the needs of the population for up to six months in case of an emergency. The Ministry forbids the export of subsidised material from the State to guarantee their availability to citizens in sufficient quantity.

The Ministry cooperates with specialised authorities such as the Kuwait Company for Ration, Cooperative Societies Union and the Kuwait Flour Mills and Bakeries Company by providing financial subsidies to them. These subsidies take care of raw material requirements, rents of ordinary and cold stores, as well as the salaries of transportation and storage staff.