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Kuwaiti minister, Chinese officials discuss strategic cooperation

KUWAIT, July 12 (KUNA) -- Kuwait's Deputy Premier and Finance Minister Anas Al-Saleh discussed strategic cooperation on various domains with a visiting Chinese official delegation on Wednesday.
The talks grouped leading Kuwaiti officials like Central Bank Governor Mohammad Al-Hashel and Kuwait Investment Authority Managing Director Farouq Bastaki alongside representatives of China Development Bank, China Telecom and China International Energy Group Co.
The official Chinese delegation, which arrived in Kuwait on Monday, has been discussing matters related Kuwait's development plan and ways it could contribute to China's recreation of the ancient Silk Route, nicknamed the Belt and Road global trade project.
The Chinese intend to do this through the development of strategic projects, including Kuwait's planned Silk City project, a 250 sq/km free trade zone in the northern Subbiyya region and Kuwait's five islands. On Tuesday, a Chinese firm signed a KD 215 million (USD 709 million) contract with the Kuwaiti government to develop infrastructure and roads for a new 18,000-unit housing project in Kuwait's South Matlaa, located west of the capital.
Kuwaiti officials also announced that Chinese technology and smartphone giant Huawei will execute the second phase of a fiber optics project after signing a KD 22 million (USD 72 million) contract.
The deals come after several other contracts, related to the housing and communications sectors, were wrapped up earlier. (end) km.sd