Ha Noi — Prime Minister of Kuwait Sheikh Nasser Al-Mohammad Al-Ahmad Al-Sabah will pay an official visit to Viet Nam from May 23-25, at the invitation of Prime Minister Nguyen Tan Dung.
The Kuwaiti Prime Minister’s trip to Viet Nam will be the first by a high ranking delegation from the oil rich state to the country and is aimed at boosting bilateral co-operation in the fields of economics, investment, trade and labour.
Viet Nam and Kuwait first established diplomatic relations on January 10, 1976 and in October of 2003, Viet Nam officially opened its embassy in the Arabian country.
To date Kuwait has played an important role in providing development aid for Viet Nam. Through the Kuwait Fund for Arab Economic Development, the geographically tiny state has so far provided loans worth over US$100 million to fund infrastructure projects.
he two countries’ agencies are working towards agreements on investment promotion and protection and mechanisms to avoid double taxation.
wo-way trade reached $380 million last year, a three-fold increase over 2002.
Viet Nam mainly exported garment and textile products, seafood, wooden furniture, computers, electronic equipment, pepper, footwear, ceramics and pottery to Kuwait, while importing oil, urea fertiliser and fabric.
The Persian Gulf country also plans to pour around $500 million into the Nghi Son oil refinery in Viet Nam’s central Thanh Hoa Province. — VNS
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