Oman, Kuwait sign 4 MoUs in various fields

Oman Monday 13/May/2024 20:42 PM

Kuwait: The Sultanate of Oman and the State of Kuwait signed at the Kuwait Chamber of Commerce and Industry on Monday 4 memorandums of understanding (MoUs) in the fields of direct investment, metrology activities, diplomatic studies and training, as well as another MoU between the Oman Investment Authority (OIA) and the Kuwait Investment Authority.

Signing the MoUs comes within the framework of the current state visit of His Majesty Sultan Haitham bin Tarik to the State of Kuwait.

These MoUs represented in the MoU between the Foreign Ministry and its Kuwaiti counterpart in the fields of diplomatic studies and training. This MoU aims at cooperation, development and proposing modern methods for training specialists in the fields of foreign policy, international relations, political science and other related fields, in addition to exchanging documents, studies and experiences on topics of mutual interest.

In the areas of direct investment and standardisation, the Ministry of Commerce, Industry and Investment Promotion signed two MoUs; the first with the Kuwait Direct Investment Promotion Authority, and related to establishing a framework for cooperation in the field of direct investment and facilitating the exchange of knowledge and experiences between them.

The second MoU inked with the Kuwait Public Authority for Industry in the field of standardisation. It aims to strengthen cooperation relations between them in the fields of standardization, quality, laboratories and conformity assessment activities, and to contribute to raising the quality of non-food industrial products and services exchanged between the two countries.

Oman Investment Authority (OIA) also signed a MoU with the Kuwait Investment Authority. This MoU aims to establish a common framework for cooperation and coordination in joint investments between the two parties and to enter into discussions about future investment opportunities in the Sultanate of Oman and the State of Kuwait, as well as studying investment opportunities in existing investment funds affiliated to the Oman Investment Authority, which are concerned with various fields, such as energy, utilities, infrastructure, communications, transportation and logistics services, in addition to the possibility establishing a joint investment fund.

The MoUs were signed from the Omani side by Abdulsalam Mohammed Al Murshidi, Chairman of the Oman Investment Authority, Qais Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion, Ibtisam Ahmed Al Farooji, Undersecretary of the Ministry of Commerce, Industry and Investment Promotion for Investment Promotion, and Dr. Saleh Amer Al Kharousi, Ambassador of the Sultanate of Oman to the State of Kuwait.

The MoUs were signed from the Kuwaiti side by Dr. Mishal Jaber Al Ahmad Al Jaber Al Sabah, Director General of the Kuwait Direct Investment Promotion Authority, Ziad Abdullah Al Najem, Undersecretary of the Ministry of Commerce and Industry, Nasser Subaih Al Sabeeh, Assistant Minister of Foreign Affairs for Saud Al Nasser Institute Affairs and Ghanem Suleiman Al Ghenaiman, Managing Director of the General Investment Authority in the State of Kuwait.