Uzbekistan, Kuwait boost economic ties

/By AzerNews/

By Laman Sadigova

Uzbekistan’s First Deputy Prime Minister and Finance Minister Rustam Azimov and Kuwaiti Ambassador Ahmed Khaled Abdullah Al-Dzhiyran discussed a wide range of issues related to the bilateral relations and cooperation.

They reviewed issues of expanding the trade and economic relations between them and stressed that the development of economic cooperation follows the interests of both countries.

The Uzbek side also urged Kuwaiti businessmen to invest various sectors of the Uzbek economy. He said that Tashkent is seeking to enhance mutual cooperation with Kuwait “to the level aspired by the two countries’ leaders.”

Earlier, 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.

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