A handout picture released by KUNA in Kuwait on May 7, 2017, shows Emir of Kuwait Sheikh Sabah al-Ahmad al-Jaber al-Sabah (R) as he receives Egyptian President Abdel Fattah al-Sisi at Bayan palace in Kuwait City. (AFP)
KUWAIT CITY - 7 November 2018: Prime Minister Sheikh Jaber Al Mubarak Al Hamad Al Sabah opened on Wednesday the first Kuwait-Egypt cooperation forum held under the slogan "brotherly partners."
Addressing the opening session, the head of the Kuwaiti side in the Egyptian-Kuwaiti Cooperation Council Mohamed Jasem Saqr said the forum is aimed at supporting the Egyptian economy and the development plans adopted by Egypt in order to encourage foreign investors to pump more investments into Egypt.
He underlined the deeply-rooted ties between the two countries, addeding that the investment climate in Egypt had largely developed over the past few years, especially after implementing the ambitious economic reform program.
He said foreign investments in Egypt exceeded dlrs 110 million, adding that Egypt came in the third position - after Saudi Arabia and the UAE - as the most investment attractive country at the Arab level.
He added that the volume of trade exchange between Egypt and Kuwait - excluding petroleum products - hit dlrs 500 million, stressing that this number does not meet the two countries' aspirations.
He lauded the strenuous efforts exerted by Egyptian Ambassador in Kuwait Tareq Qouni in arranging the forum.
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