Business
‘Kuwait-China inked MoUs, projects on steady track’
Assistant Foreign Minister for Asian Affairs Ambassador Samih Johar Hayat and Chinese ambassador at the cake-cutting ceremony
KUWAIT CITY, June 3: Assistant Foreign Minister for Asian Affairs Ambassador Samih Johar Hayat confirmed that the implementation of the agreements and memoranda of understanding signed by Kuwait and China is proceeding steadily. Hayat made the statement to reporters on the sidelines of an official farewell ceremony to mark the end of the tenure of Chinese Ambassador to Kuwait Zhang Jianwei. Several senior officials, ambassadors and diplomats; including Minister of State for Economic Affairs and Investment Noura Al- Fassam and Undersecretary of the Ministry of Defense Sheikh Dr. Abdullah Al-Sabah attended the event. Hayat disclosed that cooperation, consultation and coordination between the governments of the two countries continue on a daily basis — both with the Chinese leadership and the Chinese ambassador to Kuwait — and that things are progressing well.
Mega Projects
He revealed there are six major development projects called the ‘Mega Projects,’ which are being implemented jointly by the government and the Chinese companies. “These are government-to-government projects. We are moving forward to implement all the agreements signed with China,” he confirmed. He said His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, His Highness the Crown Prince Sheikh Sabah Al-Khaled Al-Sabah, His Highness the Prime Minister Sheikh Ahmad Abdullah Al-Ahmad and the concerned ministers fully support these projects. He added that daily reports regarding any step taken with China are submitted to the leadership. On the possibility of Kuwait reciprocating China’s one-year visa waiver for Kuwaitis, he asserted, “this is not new. We signed an agreement with China in 2014, exempting holders of Chinese diplomatic, special, official and service passports from visa requirements, while Kuwaitis hold diplomatic and special passports.”
Assistant Foreign Minister for Asian Affairs Ambassador Samih Johar Hayat presents a memento to the outgoing Chinese ambassador.
He disclosed that His Highness the Crown Prince was informed about the new Chinese initiative during his meeting with the Chinese Premier on the sidelines of the GCC-ASEANChina Summit. He stated that His Highness met with the heads of delegations at the summit, where the Chinese Premier told His Highness: “Given the daily growth of our strategic relations, we would like to offer this exemption to Kuwaitis for a trial period of one year.” He said Kuwait is studying this matter to have a memorandum of understanding to regulate the exemption for ordinary Kuwaiti and Chinese passports. Regarding His Highness the Crown Prince’s visit to Japan, Hayat stressed, “it was a historic visit that embodied the mutual trust between the leaderships and governments of the two countries. During this visit, bilateral relations were elevated to the level of comprehensive strategic relations.” He believes this will open the door for the two governments to develop their relations and implement the five agreements signed on the sidelines of the visit. He disclosed there are more than 30 memoranda of understanding signed with Japan that will be implemented soon. Addressing those present at the event, Hayat said “we bid farewell to the Chinese Ambassador after a busy period in serving the bilateral relations between the two countries. I am honored to convey the greetings of Minister of Foreign Affairs Abdullah Al-Yahya, whom I represent at this ceremony, as well as the greetings of Deputy Foreign Minister Ambassador Sheikh Jarrah Al-Jaber Al-Sabah, the assistant foreign ministers, and all the Ministry of Foreign Affairs staff.”
Progress
On the other hand, Jianwei stated “over the past three years, bilateral relations with Kuwait have made tangible progress, especially in the implementation of agreements. We will work with the Kuwaiti side to implement these agreements, especially since we have noted with pleasure that some projects, such as Mubarak Al-Kabeer Port, have made significant progress and are now well underway, thanks to the close cooperation between China and Kuwait.” On whether construction has resumed at Mubarak Al-Kabeer Port, he disclosed “the Mubarak Al-Kabeer Port has entered the design and construction phase, and work will continue, because this is a very large project that requires a feasibility study. The designs are precise. Now, the first phase of the designs has begun. We are optimistic about the future of our cooperation on projects and in other sectors.” About the timing of the Mubarak Al-Kabeer Port project, he pointed out “major projects take time and years to implement. I believe that through close cooperation between the two countries, the project will proceed smoothly.” He also expressed his happiness over China’s recent decision to exempt Kuwaiti citizens from entry visas, describing it as good news that refl ects the strength of the relationship.
By Fares Ghaleb
Al-Seyassah/Arab Times Staff
A person stands near an electronic stock board, left top, showing Japan’s Nikkei index at a securities firm on July 22, in Tokyo. The traffic signs read: No Crossing. (AP)
BANGKOK, July 22, (AP): World shares were mixed on Tuesday after U.S. stock indexes inched to more records at the start of a week of profit updates from big U.S. companies. Germany’s DAX lost 0.5% to 24,186.14 and the CAC 40 in Paris gave up 0.4% to 7,768.46. Britain’s FTSE 100 edged 0.1% lower, to 9,009.34. The futures for the S&P 500 and the Dow Jones Industrial Average were virtually unchanged.
In Asian trading, Japan’s benchmark surged and then fell back as it reopened from a holiday Monday following the ruling coalition’s loss of its upper house majority in Sunday’s election. The Nikkei 225 shed 0.1% to 39,774.92. Analysts said the market initially climbed as investors were relieved that Prime Minister Shigeru Ishiba vowed to stay in office despite the setback
. But the election’s outcome has added to political uncertainty and left his government without the heft needed to push through legislation. A breakthrough in trade talks with the US might win Ishiba a reprieve, but so far there’s been scant sign of progress in negotiating away the threat of higher tariffs on Japan’s exports to the US beginning Aug 1.
“Relief may be fleeting. Ishiba’s claim to leadership now rests on political duct tape, and history isn’t on his side. The last three LDP leaders who lost the upper house didn’t last two months,” Stephen Innes of SPI Asset Management said in a commentary. Elsewhere, Hong Kong’s Hang Seng rose 0.4% to 25,082.78, while the Shanghai Composite index advanced 0.6% to 3,581.86.
South Korea’s Kospi sank 1.3% to 3,169.94, with investors concerned over the Aug. 1 deadline for making a deal with U.S. President Donald Trump or facing 25% tariffs on all the country’s exports to the US. Australia’s S&P/ASX 200 added 0.1% to 8,677.20.
India’s Sensex gained 0.1%, while In Thailand, the SET sank 1.1% after the government named Vitai Ratanakorn as the new future governor of the central bank. He is viewed as likely to be less independent than the current governor, raising concerns about the bank’s independence, analysts said. Vitai will replace Sethaput Suthiwartnarueput, when his term as governor ends in September.
Chairman of the Kuwaiti Directorate General of Civil Aviation (DGCA) Sheikh Humoud Mubarak Humoud Al-Sabah receives the Japanese Ambassador to Kuwait Kenichiro Mukai
KUWAIT CITY, July 21: Chairman of the Kuwaiti Directorate General of Civil Aviation (DGCA) Sheikh Humoud Mubarak Humoud Al-Jaber Al- Sabah said Sunday that the DGCA looks forward to promoting cooperation with Japan in civil aviation. Sheikh Humoud made the remarks while welcoming Japanese Ambassador to Kuwait Kenichiro Mukai to discuss bilateral cooperation in the field of civil aviation, the DGCA said in a press release. He underlined the importance of deepening the distinguished ties between both friendly countries, praising Japan’s advanced experience in technology and aviation industry, it said. For his part, the Japanese Ambassador expressed his appreciation to the Kuwaiti official for his hospitality, saying that his country is interested in furthering cooperation with the State of Kuwait in aviation, in a way that contributes to exchanging expertise and achieving integration in the fields that concern both sides. (KUNA)
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