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Oman receives kuwaiti trade delegation
Oman-Kuwait, Economics, 3/9/2002
Maqbool bin Ali bin Sultan, Oman's Commerce and Industry Minister, received at the Ministry today, Sa'ad Ali al Nahidh, Chairman of the Chamber of Commerce and Industry in Kuwait and his accompanying delegation, ONA said.
The Minister said he had briefed the guest on the Omani economy and the regulating economic laws in the country, notably foreign investment law and the role of economic institutions such as the industrial estates and the OCIPED in promoting investment opportunities in Oman.
He added in a statement to Oman News Agency (ONA), that the meeting focused on Gulf inter-trade in general and between the Sultanate and Kuwait in particular. The two sides discussed ways to remove obstacles facing the flow of inter-trade.
He noted there was remarkable growth in inter-trade between the Sultanate and Kuwait.
He said the meeting also stressed the importance for cooperation in various investment fields including setting up joint ventures in the industrial, tourism and services spheres, particularly in oil and gas based and IT projects.
He added there were several mechanisms for investment cooperation in those fields, notably the holding of joint investment funds and companies.
He said the Kuwaiti delegation spoke about the importance of stimulating development progress in the GCC states during the upcoming period through restructuring the private sector to enable it to actively carry out its role in development.
He pointed out that the guests proposed establishing holding investment company by the private sector in the GCC states, saying that the Sultanate welcomed the idea, ONA reported.
Previous Stories:
Omani- Kuwaiti higher joint committee to be declared very soon
(11/22/2001)
Oman, Kuwait review relations
(3/12/2001)
Kuwaiti officials meet with Oman's information minister
(6/6/2000)
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