Kuwait, Egypt sign draft deal for commercial, industrial cooperation

GMT 04:49 2014 Wednesday ,22 October

Arab Today, arab today Kuwait, Egypt sign draft deal for commercial, industrial cooperation

Foreign Trade Sheikh Nemer Fahad Al-Sabah (R)
Cairo - KUNA

 The governments of Egypt and Kuwait on Tuesday signed a draft agreement for commercial and industrial cooperation and a Memorandum of Understanding in the field of exhibitions and conferences.
Kuwait's visiting Ministry of Commerce and Industry Assistant Undersecretary for International Organisations and Foreign Trade Sheikh Nemer Fahad Al-Sabah signed both documents on behalf of his country.
As for Egypt, Ministry of Industry and Trade First Undersecretary for Small and Medium-Sized Enterprises Saeed Abdullah signed the draft deal, while Undersecretary and head of the Egypt Expo and Convention Authority Najwa Rashad signed the MoU.
Speaking to KUNA, Sheikh Nemer said that the agreement represents a "huge accomplishment and a closeness" across the various economic fields, adding that it aims to contribute to further cooperation through "opening up official channels" between both countries.
Meetings he had held with Egyptian officials touched upon a number of issues amid Kuwait's Gulf Cooperation Council session presidency.
These include what he referred to as "problems and points of difference Arab nations are faced with", adding that the coming period would be witnessing coordinative meetings between Kuwait and Egypt on the industrial and commercial levels to "face these problems." On the MoU, he said it would aim to expand the base of exchanged bilateral participation in local conferences, to open up channels for the exchange of industries, to support the private sectors of both, through displaying their products locally and to ease the coordinative work of their chambers of commerce.
For his part, Egyptian official Abdullah said that the agreement would aim to regulate the commercial relationship between the two countries.
It will also aim to increase opportunities for export and trade exchange between both sides, and unify their positions at regional and international podiums.

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