Iran-Kuwait trade committee signs memorandum of understanding
Kuwait-Iran, Economics, 1/26/2000

The Kuwaiti-Iranian joint trade committee is expected to sign in Kuwait on Wednesday a memorandum of understanding on issues concerning development of bilateral trade cooperation and encouraging participation in commercial exhibitions and free trade zones.

The Kuwaiti news agency, KUNA, quoted a Kuwaiti official source at the Ministry of Commerce and Industry as saying on Tuesday that the meeting, headed by undersecretary Rashed Al-Mejrin and his Iranian counterpart, Abdulhussein Wahaji, discussed bilateral economic, industrial and technical cooperation.

The two officials also discussed problems related to sea transportation, tariffs and customs fees and Iran's export of cement to Kuwait according to the latter's specifications, the source said.

The committee which meets every three months followed up on efforts to implement port and navigation agreements between the two countries in addition to other agreements, he added.

Moreover, the director general of the Kuwait free trade zone, Jhail Al-Jhail, said following the meeting that issues concerning the free trade zone were settled.

These issues include facilitation, movement, cargo, navigation and communication between the two countries in addition to the entrance of Iranian traders to Kuwait for 72 hours without visas, he said.

The Iranian delegation visited the free trade zone in Shuwaikh last night and met with the chairman of the zone's managing company board of directors, Jamil Al-Sultan.

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