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Aug 08 2010

Kuwaiti businessmen urged to invest in Russia

Sunday, Aug 08, 2010

Gulf News

Countries agree to open investment offices as representatives sign protocol document to boost bilateral ties

Manama A Russian minister has urged Kuwaiti investors to launch business ventures in Russia, claiming that bilateral ties are booming.

Sergey Ivanovich Shmatko, Russia’s energy minister, issued the call following the third meeting of the Kuwaiti-Russian government committee for trade, economic, scientific and technical cooperation in Moscow.

Kuwait’s oil minister Shaikh Ahmad Al Abdullah Al Sabah headed the Kuwaiti delegation, while Shmatko led the Russian side.

Both countries said the session addressed important issues relating to prospective cooperation in several spheres and that, what they called, the “positive results” from it would boost ties and cooperation between them.

However, the two sides said their commercial ties were not as strong as their political relationship and that both countries needed to speed up the formation of two sub-committees, the first dealing with oil, gas and other energies, and the other with science and technology.

The two delegation heads said they had discussed the possible opening of investment offices in the two countries and the exchange of information about them.

“The protocol document of the Russian-Kuwaiti Joint Committee meetings expresses both parties’ eagerness to boost relations in all domains, reflecting the constructive atmosphere throughout the meetings,” the Kuwait News Agency (Kuna) reported.

By Habib Toumi Bureau Chief

© Gulf News 2010. All rights reserved.

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