ISLAMABAD, June 19: Pakistan and Kuwait on Monday signed several agreements and memoranda of understanding to enhance economic relations, including an MoU for setting up an oil refinery at Port Qasim.
President General Pervez Musharraf and the Amir of Kuwait, Shaikh Sabah Al-Ahmed Al Sabah, held wide-ranging talks and attended the signing ceremony.
The oil refinery will draw Kuwaiti investment to the tune of $1.2 billion. Its capacity will be 100,000 barrels per day.
Under one agreement, the two countries will augment technical and economic cooperation. One of the MoUs envisages development of small and medium enterprises.
Pakistan and Kuwait also signed an executive programme for cultural, educational and information exchanges.
President Musharraf said Pakistan would welcome Kuwait’s participation in development of Gwadar as a trade and energy corridor.
The Amir declared during talks at the Aiwan-i-Sadr that private Kuwaiti companies would make ‘substantive’ investments in infrastructure projects in Pakistan.
Gen Musharraf spoke about the investment and joint venture opportunities in areas of infrastructure, information technology, housing and building, tourism and food processing.
Sheikh Sabah said Kuwait saw with great admiration Pakistan’s recent economic turnaround and vowed to encourage the public and private sectors of his country to enhance their commerce and investment relations with Pakistan.
The two leaders appreciated the contribution of the Pakistani community to development of Kuwait.
They exchanged views on various regional and international issues of common interest. They also discussed revitalisation of the Organisation of Islamic Conference.
BANQUET: Later, speaking at a banquet hosted in honour of Shaikh Sabah by the president, the Kuwaiti leader said his country would benefit from the skills and expertise of Pakistani manpower for promoting growth and development in the two countries.
“There are challenges and dangers which threaten security and stability of the region, require continuous coordination between the two brotherly countries to confront them,” he pointed out.
He said conflicts should be resolved through peaceful means.
President Musharraf said the presence of 125,000 Pakistani nationals in Kuwait was a testimony to their close relations and appreciated the patronage of the Kuwaiti government to the Pakistani expatriate community.
He said Pakistan was committed to peace process with India, adding that stability in Afghanistan was in Pakistan’s interest.
Pakistan, he said, attached great importance to a secure and stable Middle East.
ARRIVAL: Earlier, a red-carpet welcome was accorded to the Amir of Kuwait when he arrived on a two-day visit to Pakistan.
President Musharraf received the distinguished guest at the PAF base Chaklala.—APP
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