Canada and Kuwait on Monday signed a trade and investment treaty during the first visit to the country by a Kuwaiti prime minister.
The agreement establishes rules to ensure that foreign investors receive similar treatment to domestic investors, and it guarantees that companies will not have their investments expropriated without prompt and adequate compensation.
“This agreement will encourage two-way trade and investment by providing greater predictability and certainty for investors in both countries,” Canadian Prime Minister Stephen Harper said in a statement. He said Kuwait offers “significant investment potential” for Canadians, particularly in manufacturing and infrastructure.
In Ottawa, Kuwaiti Prime Minister Sheikh Nasser Al-Mohammed Al-Ahmed Al-Jaber Al-Sabah and Harper also discussed challenges currently facing the Middle East and North Africa, including security in the region, officials said.