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 | Kuwait, Jordan form investment-encouraging cmte  | |
MENAFN - Kuwait News Agency (KUNA)
- 27/02/2012
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(MENAFN - Kuwait News Agency (KUNA)) Kuwait and Jordan hammered out here Sunday a pact to form a joint committee to encourage bilateral investments and economic cooperation.
The agreement was signed by Assistant Undersecretary for External Trade at the Kuwaiti Ministry of Commerce and Industry Sheikh Nimer Fahad Al-Sabah and CEO of Jordan Investment Board (JIB) Awni Shdeifat.
In statements to KUNA, Sheikh Nimer said that the agreement comes within the framework of bilateral cooperation protocol signed between the two Arab nations.
Sheikh Nimer pointed out that the committee aims to increase bilateral investments, acquaint investors with available investment opportunities in the two countries, exchange experience, offer training and removing obstacles facing investors.
He underlined that the Kuwaiti investments in Jordan were steadily growing, estimating them at USD 8 billion.
The bilateral trade exchange also jumped from USD 131.2 million in 2005 to USD 276 million in 2011, Sheikh Nimer said.
For his part, Kuwaiti Ambassador to Jordan Dr. Hamad Al Saleh Al Dueij, who attended the signing ceremony, lauded the pact and both countries' efforts to further boost bilateral ties.
He also urged the private sector from both countries to set up trade, industrial and tourism projects to enhance economic relations.
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