Uzbekistan, Kuwait expanding economic co-op

Uzbekistan, Kuwait expanding economic co-op

Tashkent, Uzbekistan, Oct. 19

By Demir Azizov– Trend:

Uzbekistan and Kuwait will hold a session of the joint intergovernmental commission on cooperation in the first quarter of 2017 to expand the trade-economic and investment partnership, Uzbekistan national news agency (UzA) reported.

According to the report, the agreement on that issue was reached during the meeting between Uzbek acting President, Prime Minister Shavkat Mirziyoyev and Kuwait’s First Deputy Prime Minister, Foreign Minister Sheikh Sabah Khaled Al-Hamad Al-Sabah.

During the recent meeting, the sides exchanged views on bringing the Uzbekistan-Kuwait relations to a higher level, the report said.

According to the report, Mirziyoyev and Sabah Khaled Al-Hamad Al-Sabah stressed the importance of mutual exchange of visits at various levels for the development of relations between the countries.

Uzbekistan and Kuwait signed bilateral intergovernmental agreements in the field of economy during Uzbek first President Islam Karimov’s official visit to Kuwait in January 2004.

In particular, a memorandum on cooperation between the government of Uzbekistan and the Kuwait Fund for Arab Economic Development (KFAED) was signed. The memorandum envisages financial assistance totaling $215 million for the implementation of nine projects in the fields of health protection, energy supply, land reclamation and water supply in Uzbekistan.

Another intergovernmental agreement was signed as part of Sabah Khaled Al-Hamad Al-Sabah’s official visit to Uzbekistan in July 2008. The agreement envisages KFAED’s financial assistance to implement 10 projects totaling $375.2 million.

In total, KFAED allocated $135 million for the implementation of investment projects in Uzbekistan. KFAED also allocated $60.6 million for three projects implemented in the field of water supply, transport infrastructure and medicine. Four more projects co-financed by KFAED in the amount of $72.5 million are being implemented in the field of cardiac surgery, irrigation and road repair.

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