State visit of Amir to boost country’s economic relations between Kuwait

March 24, 2012 1:42 am 

MANILA, March 23 — The five-day state visit of Kuwait’s Amir, His Highness Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah to the Philippines is expected to intensify economic relations and boost investments in the Philippines.

Interviewed by the Kuwait News Agency (KUNA) prior to the visit, Philippine Ambassador to Kuwait Shulan O. Primavera said economic diplomacy is one of the current thrusts of the Aquino administration aimed at seeking potential foreign investors for Philippine development projects.

Among the Kuwaiti investments in the Philippines include the US$ 2 billion Kuwait and Gulf Link Co. (KGL) investment in Clark Field in Pampanga, the acquisition of the Negros Navigation and interest in investing in metro rail transit (MRT) system, and Intishar's 500-hectare banana plantation in Davao, Primavera said.

Sheikh Sabah is scheduled to unveil the marker for the Sabah Al Ahmad Global Gateway Logistics City, at the Clark Export Processing Zone on Tuesday, March 27.

The Philippines opened the Philippine Trade and Investment Center in Kuwait City in 2009 to boost economic cooperation in Kuwait and facilitate several business matching conferences between Filipino and Kuwaiti businessmen.

Kuwait currently hosts more than 140,000 Filipino expatriates with Filipinos ranking as the fourth largest expatriate community in that country, after the Indians, Egyptians, and the Bengalis. In 2009, Kuwait passed a labor law designed to promote the welfare of workers in its private sector.

The visiting Amir of Kuwait and the President are expected to hold bilateral meeting and witness the signing of several agreements.

Among the agreements to be signed by the two countries include: Memorandum of Understanding on Agricultural and Fisheries Cooperation, Agreement on the Waiver of Visa Requirements for Holders of Diplomatic, Special and Official Passports, Executive Program for the Cultural Agreement for the Years 2012-2014, Memorandum of Understanding on Cooperation in the Recruitment and Employment of Filipino Household Service Workers, and Memorandum of Understanding in the Field of Labor Cooperation. (PNA)



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