‘Honorable stances reflect on strong Kuwait-Spain ties’

Kuwaiti investors ‘reliable’ in Spain: Al-Khubaizi

KUWAIT CITY, Oct 12, (KUNA): Kuwaiti-Spanish relations reflect strong friendship and honorable stances, Kuwait’s Assistant Foreign Minister on European Affairs Waleed AlKhubaizi said Tuesday.

Spain had also strong honorable stances during the Iraqi occupation period, including military contribution with international coalition to liberate Kuwait from the Iraqi occupation, adding that Spain has always supported Kuwait in various issues in international forums.

Al-Khubaizi made the statement on the sidelines of a reception held by the Spanish Embassy in Kuwait, marking Spain’s National Day. “Such good relations resulted in fruitful cooperation with 10 agreements covering all vital sectors, including mutual visits between His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah and Spanish King Felipe VI,” he said.

Meanwhile, a Kuwaiti official said Tuesday that Kuwaiti investors in Spain were “reliable” among the Spanish business community.

Al-Khubaizi, in a statement on sidelines of a reception held by the Spanish embassy to mark the country’s national day, said Kuwaiti investors did not withdraw from Spain during the European country’s financial crisis but kept their assets and investments.

This was encouraged by the Spanish government’s measures to further encourage Kuwaiti investment, he said.

Al-Khubaizi said the Spanish authorities facilitated the issuance of entry visas for Kuwaiti citizens, as well as offering residence permits for investors, and exempting taxes on direct investment. Trade exchange between Spain and Kuwait surged by 87 percent between 2003 and 2013.

The two countries are bound to a series of agreements.