Kuwaiti, Egyptian Commerce Minister Affirm Coop.

(MENAFN- Kuwait News Agency (KUNA)) KUWAIT, Feb 3 (KUNA) -- Kuwaiti Minister of Commerce and industry Khalifa Al-Ajeel and his Egyptian counterpart, Hassan Al-Khatib, emphasized during a meeting on Monday, the importance of enhancing economic and trade relations between the two countries.
Al-Ajeel stated during the opening of the first session of the Joint Kuwaiti-Egyptian Ministerial Trade Committee held in Kuwait at the level of trade ministers that the presence of the Egyptian delegation in the country adds significant value to this inaugural session, reflecting the deep brotherly ties.
He noted that today's meeting comes at a time when cooperation among brotherly countries is increasingly important to address the evolving challenges in the world and the region, adding that today's discussions are not merely ceremonial meetings but a platform for formulating shared visions and ambitious plans that fulfil the aspirations of both nations.
Al-Ajeel expressed that Kuwait views Egypt as a key strategic partner and is keen to strengthen this partnership, building on past achievements and opening new avenues for cooperation. He also expressed deep appreciation for the efforts of the Egyptian delegation participating in the Committee and their commitment to enhancing cooperation between the two countries.
In a similar address, Egyptian Minister of Investment and Foreign Trade Hassan Al-Khatib described the relationship between Egypt and Kuwait as unique and based on deep understanding, reflecting the respect held by the Egyptian leadership and people towards Kuwait.
Al-Khatib added that the presence of the Egyptian delegation at the meeting activates the trade and industrial cooperation agreement signed between the two countries in 2014, aimed at creating a continuous communication environment and increasing trade exchange while launching new economic partnerships through investment projects.
He mentioned that the Egyptian government has recently implemented a package of legislative and procedural reforms to improve the investment climate, particularly in industrial investment, including an investment law that facilitates the licensing process for industrial establishments.
He highlighted the available industrial investment opportunities across various sectors, which will contribute to enhancing trade and investment between Egypt and its brotherly countries, expressing hope for further efforts to propose initiatives that would strengthen bilateral relations in all areas of cooperation, especially economic ties.
Al-Khatib invited Kuwaiti businessmen and companies to engage more actively in increasing current investments and creating new investments in joint projects across various fields under the auspices and encouragement of both the Kuwaiti and Egyptian governments.
He expressed hope for the continuation of these efforts from both sides to achieve the highest levels of integration for the benefit of both brotherly countries.
The first session of the Joint Kuwaiti-Egyptian Ministerial Trade Committee commenced yesterday at the level of undersecretaries, with the attendance of Kuwaiti Undersecretary of Commerce and Industry Ziad Al-Najem and Dr. Amani Al-Wasal, head of the Agreements and Foreign Trade Sector at the Egyptian Ministry of Investment and Foreign Trade.
According to Dr. Amani Al-Wasal, there are approximately 1,500 Kuwaiti companies in Egypt, with investments totalling USD 3.9 billion across various sectors. (end)
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