Guyana, Kuwait sign agreements

– in finance, foreign trade and air transport sectors

Guyana and Kuwait yesterday signed five technical cooperation agreements when President Bharrat Jagdeo hosted that country’s Prime Minister Sheikh Nasser Mohammed Al Ahmed Al-Jaber Al Sabah and other officials.

President Bharrat Jagdeo (second, left) welcomes His Highness Sheikh Nasser Mohammed Al Ahmed Al-Jaber Al Sabah, Prime Minister of the State of Kuwait at the Cheddi Jagan International Airport yesterday. (GINA photo)

Following a red carpet welcome at the Cheddi Jagan International Airport, a meeting was held at the Office of the President, where the agreements were signed. These agreements are spread across the finance, foreign trade and air transport sectors.

According to a release from GINA, the first agreement for Economic and Technical Cooperation was signed between Finance Minister Dr Ashni Singh and his counterpart from Kuwait, Mustafa Jasem Al Shamali. “The agreement seeks to encourage cooperation of the private sector through the establishment of joint ventures,” GINA said.

The second agreement signed between the two ministers was “for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and on capital.”

Minister of Foreign Affairs Carolyn Rodrigues Birkett (seated left) and Kuwait’s Minister of Trade and Industry Ahmad AL-Haroun (seated right) signing the agreement on bilateral trade. Looking on from left back row are: Director General in the Foreign Ministry Elisabeth Harper, President Bharrat Jagdeo and Kuwait PM Sheikh Nasser Mohammed Al Ahmed Al-Jaber Al Sabah. (GINA photo)

Foreign Minister Carolyn Rodrigues-Birkett and Kuwait’s Minister of Trade and Industry Ahmad Al-Haroun signed a third agreement for bilateral trade. This agreement allows the two countries to develop trade relations, expand the exchange of good and services, encourage participation in trade fairs and international markets and also exchanges of commercial delegations.

A fourth agreement establishing a joint commission was signed between Rodgrigues-Birkett and the undersecretary of Kuwait’s Ministry of Foreign Affairs Khaled Al Jarallah.

This deal paves the way for the establishment of mechanisms that would monitor the cooperation programmes between the two countries in the economic commercial, investment and financial fields.

Transport Minister Robeson Benn and Kuwait’s General Director of Civil Aviation Bader Boutaiban signed the final agreement which permits the two countries to develop bilateral air services and to promote international cooperation in the air services field.

The official visit culminated with a dinner at State House where the visiting delegation dined with government officials. Joining the local team were representatives from the opposition, religious and diplomatic communities and private sector, GINA said.

The Kuwait Prime Minister and his team arrived yesterday afternoon to a red-carpet welcome at the Cheddi Jagan International Airport and were met by President Jagdeo. The contingent then proceeded on a motorcade to the city. The delegation included a senior minister in the Office of the Emir, the deputy prime minister and minister of foreign affairs, the minister of finance and the minister of commerce and industry, along with members of the private sector, GINA said.

Guyana and Kuwait established diplomatic relations on August 17, 1995. His Excellency Waleed Ahmad Al-Kandari is the current Ambassador of Kuwait to Guyana. He is resident in Brazil.

Earlier this year President Jagdeo travelled to Kuwait and signed two cooperation agreements and one Memorandum of Understanding. Agreements on bolstering cultural ties encouraging bilateral investments were signed.

Kuwait is the fifth richest country in the world. It has a Gross Domestic Product (GDP) of US$167.9 billion and a per capita income of US$81,800.