11/4/2010
Kuwait, Japan conclude bilateral investment deal -- diplomat

Kuwaiti Charg{ d'affaires to Japan Mohammed Al-Mutairi has hosted a reception in honor of Kuwait's delegation who visited here to conclude a bilateral investment agreement between the two countries.
At their third round of negotiations that was held Nov.24-26, in a friendly and constructive atmosphere, the two sides reached an agreement for the Convention on the Promotion and Protection of Investments.
"If ratified by the relevant authorities in both countries, the agreement will open up prospects for the flow of investments between Kuwait and Japan," the Charg{ d'affaires said, pointing out that it will also strengthen their solid relations in all areas in the coming period, especially with the celebration of the 50th anniversary of the establishment of diplomatic ties next year.
The deal needs to be ratified by authorities of the both countries to come into force. Al-Mutairi said the draft will be presented to legislative bodies and technical committees of the two countries for final approval as soon as possible.
Al-Mutairi expressed appreciation for the efforts exerted by the Kuwaiti delegation headed by Dr. Wesam Al-Othman, Assistant Secretary of the Finance Ministry's Tax Liability Department in the negotiations, saying, "They have made a great effort in dealing with the Japanese negotiators, who are known for sophistication and expertise in the field of negotiation." For their part, the delegation expressed their gratitude to Al-Mutairi and his efforts to the success of their visit to Japan.