Kuwait, UK eye closer ties

UK to or­ga­nize in­vest­ment expo on Kuwait

Kuwait Times - - LOCAL -

Means of boost­ing co­op­er­a­tion, mainly the eco­nomic and con­sul­ta­tive ar­eas be­tween Kuwait and Bri­tain were the fo­cus of dis­cus­sions be­tween Chair­man of Cap­i­tal Mar­kets Au­thor­ity (CMA) Board of Com­mis­sion­ers Nayef Al-Ha­jraf and Lord Mayor of the City of Lon­don Andrew Parm­ley.

The two sides dis­cussed de­vel­op­ing co­op­er­a­tion in the train­ing and re­ha­bil­i­ta­tion fields which are in line with the agree­ment that was signed for this pur­pose last Au­gust, the au­thor­ity said in a press state­ment yes­ter­day. The agree­ment aims to serve deal­ers of se­cu­ri­ties ac­tiv­i­ties through im­ple­ment­ing the in­ter­na­tional qual­i­fi­ca­tions tests on lim­ited jobs to raise suf­fi­ciency of deal­ers at mar­ket, it added.

The deal stressed the need to share ex­per­tise with in­ter­na­tional in­sti­tu­tions so as to up­grade Kuwait’s mar­ket, it noted. The au­thor­ity stressed that it seeks to es­tab­lish, or con­trib­ute to es­tab­lish­ing, an ed­u­ca­tional or a train­ing in­sti­tu­tion in the area of se­cu­ri­ties mar­kets, the state­ment con­cluded.

In­vest­ment expo

Mean­while, Parm­ley an­nounced on Tues­day that the UK plans to or­ga­nize an ex­hi­bi­tion on in­vest­ment op­por­tu­ni­ties in Kuwait, adding that it is slated for 2017 in Lon­don in co­or­di­na­tion and co­op­er­a­tion of Kuwait Di­rect In­vest­ment Pro­mo­tion Au­thor­ity (KDIPA).

Parm­ley made his re­marks on the side­lines of his of­fi­cial visit to Kuwait, dur­ing which he met with sev­eral Kuwaiti of­fi­cials and busi­ness­men to dis­cuss boost­ing com­mer­cial ties be­tween the two coun­tries.

The two-day visit was very fruit­ful and in­cluded a num­ber of sig­nif­i­cant meet­ings with Deputy Prime Min­is­ter, Finance Min­is­ter and Act­ing Oil Min­is­ter Anas Al-Saleh, Sheikh Dr Me­shaal Jaber Al-Ah­mad Al-Sabah, KDIPA’s Di­rec­tor-Gen­eral, Bader Al-Saad, CEO of Kuwait In­vest­ment Au­thor­ity (KIA), and rep­re­sen­ta­tives of a num­ber of eco­nomic in­sti­tu­tions in Lon­don, he said.

These meet­ings also high­lighted de­tails on Kuwait’s plan to di­ver­sify its in­come sources and min­i­mize de­pen­dence on oil as a main source for the coun­try’s in­come, Parm­ley said. The Kuwaiti-Bri­tish talks also tack­led other vi­tal sub­jects such as Kuwait’s de­vel­op­ment plan, ef­forts to trans­form the coun­try into com­mer­cial and fi­nan­cial hub, and the in­au­gu­ra­tion of HSBC’s new head­quar­ters, said the Bri­tish of­fi­cial.

On the vol­ume of trade-ex­change, he said that Bri­tish ex­ports to Kuwait has amounted to around GBP 1.5 bil­lion in 2015. On en­try visas, Parm­ley said that his gov­ern­ment is­sues nearly 100,000 visas an­nu­ally for Kuwaiti cit­i­zens, adding that the UK has also re­cently adopted the use of e-Visa sys­tem to fa­cil­i­tate the is­suance and ap­proval pro­ce­dures for the ap­pli­cants. — KUNA

KUWAIT: Chair­man of Cap­i­tal Mar­kets Au­thor­ity (CMA) Board of Com­mis­sion­ers Nayef AlHa­jraf meets with Lord Mayor of the City of Lon­don Andrew Parm­ley. — KUNA

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