Kuwait, Egypt Sign 8 Co-op MoUs, Executive Programs
Category: Business

Capitalizing on their strong and historical political relations, Kuwait and Egypt have signed several memos of understanding (MoUs) and executive programs to boost cooperation in various domains.

The pacts were signed Tuesday in Kuwait at the conclusion of the twelfth session of the Higher Kuwaiti-Egyptian committee which was co-chaired by Kuwait’s Deputy Prime Minister and Foreign Minister Sheikh Sabah Khaled Al-Hamad Al-Sabah and Egyptian Foreign Minister Sameh Shoukry and was attended by representatives of 42 public and private bodies from both countries. Among the inked agreements are a memo of understanding for enhancing security cooperation and another memo for linking their electronic labor systems.

They also included six executive programs for cooperation in the coming two years in the following realms: labor, culture, education, higher education and scientific research, official media, and sports. The new package of agreements takes the number of cooperation agreements, MoUs and programs signed between the two countries since 1963 up to 148, said Sheikh Sabah Al-Khaled in a press statement. He also noted that the Kuwait Fund for Arab Economic Development (KFAED) had financed 48 key projects in various sectors in Egypt.

Sheikh Sabah Al-Khaled pointed out that the Kuwaiti investments in Egypt had blossomed to $15 billion in the past few years. He estimated the number of Kuwaiti companies and firms operating in Egypt at 1,227. Moreover, the volume of trade exchange had also ballooned in past four years to $3 billion, he boasted. The Kuwaiti top diplomat unveiled that there were over 100,000 Kuwaitis visit Egypt every year and nearly 64 regular weekly fights between the two countries. He shed lights on the contributions of the Egyptian labor and professionals in Kuwait

He reiterated commitment to exert more efforts to cement cooperation in all economic and development sectors and to push bilateral relations to brighter future that meets the aspirations of the leaders and peoples of the two nations.

Sheikh Sabah Al-Khaled commended the great development and construction contributions of approximately 700,000 Egyptians working in different public and private sectors in Kuwait. In this regard, he recalled with appreciation the historic, enlightenment role of the Egyptian educational missions – which came to Kuwait in coincidence with the start of the modernization and the development process – and their remarkable role in building a scientific base in the country.

Sheikh Sabah Al-Khaled underlined the importance of synergy to counter the growing challenges and rapid changes in the region. For his part, Egyptian Foreign Minister Sameh Shoukry lauded the deeply-rooted relations between the two sisterly countries. He expressed admiration of Kuwait’s wise foreign policy and its distinguished relations with all regional and world countries.

Kuwait had adopted moderation, reasoning and rationalism in handling regional and international crises, he noted, expressing his belief in these noble principles and values. He hoped the higher committee would help take joint cooperation to new height and urged business people and economic actors to work out a mutually-beneficial comprehensive and strategic partnership to ameliorate economic and trade cooperation. He stressed the need to increase trade exchange to live up to the strong political relations. He concluded that Egypt was looking forwards to hosting the coming meeting of the higher committee in Cairo next year.

Meanwhile, the Egyptians, at official and popular levels, highly appreciate the Kuwaiti leadership and people for their support, the North African Arab country’s Foreign Minister Sameh Shoukry said Tuesday. “We will not forget the support of Kuwait and its Amir for the Egyptian people during hardtimes,” Shoukry told a news conference in Kuwait. He said he met with His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah and exchanged views over Arab and international issues of mutual interest, specially that Kuwait represented the Arab group in the UN Security Council.

Kuwait and Egypt’s points of view over conflicts in the region were identical, he said. Shoukry cited a number of cooperation agreements, like in security, education and manpower during the joint committee meeting, said he conveyed a letter to His Highness the Amir from Egyptian President Abdulfatah El-Sisi over regional developments.

The letter, he said, included an invitation to His Highness the Amir to visit Egypt. Shoukry, meanwhile, said Kuwait was keeping Egypt updated with the issues on the UNSC agenda, specially regarding Arab and African matters.



06 Dec, 2018 0 114
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