ISLAMABAD: Pakistan’s Finance Minister Asad Umar yesterday invited Kuwait to invest in the mega projects of Pakistan including the China Pakistan Economic Corridor (CPEC) project. After a one on one meeting with the visiting Kuwaiti Minister of Commerce and Industry Khaled Al-Roudhan in Islamabad, Umar told KUNA: “We have talked to China that we should invite a third country investment to the joint venture of Pakistan and China (CPEC). We invited Saudi Arabia to invest in the project during our recent visit and the kingdom responded positively. We also want Kuwait to invest in the CPEC projects.”

Roudhan affirmed in a statement to KUNA that the two countries wanted to further improve ties. Earlier, Roudhan met President of Pakistan Arif Alvi. Roudhan said that he congratulated the president on his successful election on the behalf of HH the Amir of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah. Alvi thanked Kuwait for supporting the country in every hour of need and emphasized the need for strengthening cooperation between Pakistan and Kuwait. Both the leaders reiterated the stance of supporting each other on every issue at all the international forums including the United Nations and Organization of Islamic Cooperation (OIC). Both the officials applauded the close relationship between the two countries and vowed to strengthen ties by forging partnerships and enhancing economic and trade relations.

Roudhan and his 22-member delegation arrived in Pakistan to take part in the fourth session of the Pakistan-Kuwait Joint Ministerial Commission (JMC) in Islamabad yesterday. In his opening statement, Roudhan expressed gratitude for the hospitality and reception during the visit. He highlighted the importance of holding these joint trade, economic and investment meetings, which have an active role in the development of bilateral relations between the two friendly countries.
He mentioned that the meeting contributed to enhancing and developing prosperous relations between Pakistan and Kuwait. “It is considered as an entrance to further bilateral cooperation between the two friendly countries, in which we hope to develop trade and economic relations and reach the highest level of its potential and ambition of the two countries, which will be reflected positively on the trade exchange,” he said.

The visiting Kuwaiti dignitary sought an increase in the trade volume from $322.270 million (not including oil and its products) in 2017 and coordinate efforts, exchange views and set goals to promote and develop trade, economic and investment relations during the JMC session. He said that the commission was an umbrella covering the country’s commercial, economic and investment in public and private sectors that will contribute in pushing the trade exchanges to a wider horizon and to identify investment opportunities available in both countries.

Roudhan pointed out that Kuwait Fund for Arab Economic Development (KFAED) showed keenness and played a prominent role in strengthening ties. Supporting economic and social development, KFAED has financed 18 projects of worth $442 million since 1976 in the field of electricity, railways, dams, irrigation, water and road. Concluding his speech, he expressed hope that the fourth Session of Pakistan-Kuwait JMC will be fruitful and successful.

Umar welcomed the honorable delegates to the country and hoped that it will enhance the trade volume and trade relations between the two countries. The both sides adopted the agenda of the meeting after approval by the both co-chairs. Pakistan’s board of investment presented investment opportunities to the Kuwaiti delegation followed by a technical session. – KUNA

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