The Counter-Trade Offset Program Organization

An Offset Committee has been established by the Council of Ministers under the chairmanship of the Minister of Finance and an Advisory Committee under the chairmanship of the Undersecretary of Finance. The Offset committed is the policy arm of the Offset Program and is accountable to the Council of Ministers. The Advisory Committee performs day-to-day operations and reports to the Offset Committee. The Counter-Trade Offset Program Executive Office (PEO) operates under the Advisory Committee and administers the Offset Program.

The PEO directs all the operations involving evaluation, approval, and monitoring of foreign contractors participation in the Offset Program.

The PEO reviews specifically:

1. Memorandum of Agreement for signature by representatives of the government of the State of Kuwait and the contractor.
2. All concepts papers, proposals, business plans and other related documents that the contractor is required to submit.
3. The Offset credits earned by the contractor in fulfilling his offset obligation.
4. The granting of credits for use against future offset obligations.

The PEO monitors all phases of the fulfillment of the offset obligation of the contractor. It provides guidance to the contractor in operating within the business environment of Kuwait. The Executive Office audits the financial performance of each offset company and business project.