KUWAIT CITY, Nov 8: Minister of Commerce and Industry Khaled Al-Roudhan and visiting Vice Prime Minister of Ukraine Pavlo Rozenko on Thursday inked the minute of the fourth meeting of the joint economic committee. Al-Roudhan said during the signing ceremony that Kuwait spares no effort to consolidate the bonds of friendship with Ukraine, recalling that the Kuwait Fund for Arab Economic Development (KFAED) had supported Chernobyl nuclear power plant since it was established.
He said the KFAED had provided it with USD 4 million in 1998, USD 2 million in 2005, USD 5.2 million and USD 3.8 million in 2011 and 2015 respectively. The Kuwaiti minister went on to say that the meeting is part of efforts to promote Kuwaiti-Ukrainian cooperation.
Two-way trade exchange, which hit approximately USD 41 million in 2017, is expected to go up in the coming years, he said, adding that at the behest of His Highness the Amir, Kuwait is seeking to diversify its sources of income in line with its 2035 development plan.
Boasting of good relations between Kuwait and Ukraine, the Kuwaiti minister said the exchange of both sides’ personnel visits has led to the signing of a set of agreements and memos of understanding (MoUs) in various fields. He pointed out that two more MoUs would be inked by both sides in the domains of tourism and culture. (KUNA)