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 

Red paint from pro-Russian protests remain visible on the European Parliament and European Commission building in Sofia, Bulgaria on June 2. (AP)

SOFIA, Bulgaria, June 3, (AP): Bulgaria is close to realizing its decades-old goal of joining the euro currency union and deepening ties with the more prosperous countries of Western Europe. But the government faces a populist backlash against the shared currency on the eve of a key decision by European Union authorities.

Fears of inflation, poverty and the unknown are mingling with disinformation spread on social media that aims to turn people against the euro. The discontent tracks with increased support for populist and anti-EU parties across Europe, which is exploited by nationalist and pro-Russian politicians in a country that remains one of Europe’s poorest and most afflicted with corruption.

“Adopting the euro will make us feel the threshold of poverty. After all, prices will be in euros,” said 78-year-old retiree Tanya Ignatova. “Bulgaria is not ready for the euro. Someday we may be ready, but not now,” said another retiree, Mario Georgiev. Several thousand people rallied against the euro in the capital on Saturday, urging a referendum on whether to transition from the lev currency to the euro.

The head of the pro-Russian Varazhdane party, Kostadin Kostadinov, told the crowd that “Bulgaria has risen and declared: Freedom, we choose the Bulgarian lev!” Others in Bulgaria say the country already benefits from EU membership and it does not matter what the currency is. “We have inflation now and we will have it in the future,” said 26-year-old Konstantin Bozhinov.

Aiming at deepening European integration amid growing geopolitical tensions, the government is pressing ahead. It has asked for a review of whether it meets the requirements of low inflation, sound government finances and legal conformity to EU institutions. On Wednesday, the European Commission will announce the results. If the commission gives a green light, other member states will decide on Bulgaria’s candidacy in the coming weeks.

A person stands in front of an electronic stock board showing Japan’s Nikkei index at a securities firm on June 3, in Tokyo. (AP)

WASHINGTON, June 3, (AP): Shares were mostly higher Tuesday in Asia after US stock indexes drifted closer to records, while oil prices extended gains. The futures for the S&P 500 and the Dow Jones Industrial Average fell 0.3%. Markets in China advanced despite a report showing manufacturing activity slowed in May, even after China and the US paused tariff hikes to allow time for talks. In early European trading, Germany’s DAX climbed 0.3% to 23,996.47, while the CAC 40 in Paris edged 0.2% higher to 7,747.72.

Britain’s FTSE 100 was up less than 0.1% at 8,779.65. Adding to uncertainty in a region already enduring war in Ukraine, Poland elected Karol Nawrocki, a conservative historian and staunch nationalist, as its next president in a closely watched vote that signaled a resurgence of right-wing populism in the heart of Europe.

Nawrocki has voiced support for Ukraine’s defense against Russian aggression, but does not back Ukrainian membership in NATO and has questioned the long-term costs of aid – particularly support for refugees. The survey of Chinese purchasing managers, or PMI, by the financial media group Caixin showed factory output, new export orders, purchasing activity and staffing all declined last month.

Incoming new work contracted at the quickest pace in over two-and-a-half years. the report said. The situation is “a body blow to the backbone of China’s economy: small and mid-sized exporters now caught in a brutal vice grip between faltering global demand and a Washington-led tariff regime that’s more carrot-and-stick diplomacy than ceasefire,” Stephen Innes of SPI Asset Management said in a commentary. However, as is often the case, investors shrugged off the bad news with the assumption that it might raise the likelihood of more market support from Beijing.

Hong Kong’s Hang Seng jumped 1.5% to 23,501.55, while the Shanghai Composite index rose 0.4% to 3,361.98. Tokyo’s Nikkei 225 edged 0.1% lower to 37,446.81. In Australia, the S&P/ASX 200 climbed 0.6% to 8,466.70. In Taiwan, the Taiex gained 0.6%, while India’s Sensex lost 0.5%. Beijing and Washington dialed back trade friction slightly as the US extended exemptions for tariffs on some Chinese goods, including solar manufacturing equipment, that US industries rely on for their own production.