Algeria affirms support for Kuwait’s mediation stances
HH the Premier expected to visit Algeria
KUWAIT CITY, July 17: Ambassador of Algeria to Kuwait HE Abdulhameed Abdawi has affirmed his country’s support for Kuwait’s stances both in the United Nations Security Council and in its mediation efforts to solve the Gulf crisis, reports AlQabas daily.
In an exclusive interview with the daily, Ambassador Abdawi said the relations between his country and Kuwait are excellent and were strengthened in the past few years thanks to the exchange of communications and coordination at the highest level.
He indicated about an expected visit of His Highness the Premier Sheikh Jaber Al-Mubarak to Algeria at the invitation of his Algerian counterpart. The ambassador explained that there are 40 agreements signed between the two countries, most notably in the field of investment and avoidance of double taxation, which facilitate the work of investment companies in both countries, as well as other agreements in the field of agriculture and water resources. Kuwaiti investments have been on a rise in Algeria of late especially in the banking and insurance sectors.
He said, “We have investments in Algeria Gulf Bank SPA — a Kuwaiti bank affiliated to KIPCO, which has been operating in Algeria for years and contributes to the development of the Algerian economy.
There are other investments in the pharmaceutical industry and the small and medium enterprises”.
He indicated about the interest among Kuwaiti traders to import Algerian goods after discovering the quality of food industries, highlighting his country’s aspiration to penetrate the Kuwaiti market through her companies which are considered as pioneers in the field of electronic and mechanical industries because of the enormous mechanical capabilities and quality of products.
Regarding the oil sector, the ambassador affirmed that there is a strong cooperation between the two sisterly countries, stressing that the joint committee met in March during which agreements to strengthen cooperation were discussed and signed.
He revealed that there are ongoing discussions to export Algerian gas to Kuwait, adding, “We are constantly coordinating our positions, whether at the OPEC level or through other organizations”.