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Uzbekistan, Kuwait intend to expand trade-economic ties

Uzbekistan, Kuwait intend to expand trade-economic ties

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Date: 5 January 2016 11:17

Tashkent, Uzbekistan, Jan. 5

By Demir Azizov – Trend:

Rustam Azimov, the Uzbek First Deputy Prime Minister and Finance Minister, and Ahmad Khaled Abdullah Al-Jeeran, the Ambassador of Kuwait to Uzbekistan, discussed a wide range of issues of developing the bilateral relations and cooperation, KUNA agency reported.

The sides considered the issues of expanding the trade and economic relations and stressed that the development of economic cooperation is in the interests of both countries.

Azimov urged Kuwaiti businessmen to invest in various sectors of the Uzbek economy.

It was previously reported that the two countries signed the bilateral intergovernmental agreements in the field of economy during Uzbek President Islam Karimov’s official visit to Kuwait in January 2004.

In particular, the sides signed a memorandum on cooperation between the governments of Uzbekistan and the Kuwait Fund for Arab Economic Development (KFAED), envisaging the financial assistance worth $ 215 million to implement nine projects in Uzbekistan in the fields of health protection, energy supply, land reclamation and water supply.

Another intergovernmental document, envisaging KFAED’s financial assistance in the implementation of 10 projects totaling $375.2 million, was signed as part of Emir of Kuwait, Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah’s official visit to Uzbekistan in July 2008.

At present, the total amount of funds, allocated by the KFAED to implement the investment projects in Uzbekistan, is $135 million.

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