Kuwait, UAE sign cooperative deals

Kuwait and the UAE inked here on Monday four memos of understanding on bilateral institutional integration in cooperative domains, including oil, gas, energy and industry.
The memos were signed by Kuwait's First Deputy Prime Minister and Foreign Minister Sheikh Sabah Khaled Al-Hamad Al-Sabah and UAE Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan.
Another memo of understanding was inked between the stock markets of Kuwait and the UAE.
On the occasion of the signing of bilateral cooperative deals, Sheikh Sabah Khaled stressed the significance of the joint committee meeting to a further promotion and development of bilateral relations in various areas, and hailed the level of official and fraternal relations between both Gulf nations.
Bilateral historical relations enjoy mutual support on the part of His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah and UAE President Sheikh Khalifa bin Zayed Al Nayhyan, he said.
The joint committee meeting reflected the interest of both countries' leaders in achieving more cooperation, coordination and integration on both bilateral and Gulf levels, especially in light of existing regional and international challenges, he added.
"We are looking forward to boosting joint effective cooperation in order to achieve wider levels and fresh vistas for bilateral cooperation in economic, trade, investment, energy and environmental fields," Sheikh Sabah Khaled noted.
Hailing bilateral economic and trade cooperation, the Kuwaiti minister said two-way trade exchange hit roughly USD 3.8 billion in 2013.
The UAE was the main destination for Kuwaiti visitors in 2014, making up 29 percent of Kuwait's foreign tourism size, he said, adding that around 261 flights were reported by both sides on a weekly basis.
Sheikh Sabah Khaled also commended the UAE's recent economic successes, primarily EXPO 2020 bid win and Dubai Airshow 2013.
The joint committee has met for a couple of days here to discuss ways and means of bolstering and cementing bilateral relations in political, economic, trade, investment, industrial, legal, judicial, environmental, financial and educational fields.