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Kuwait, China sign MoU on finidng mechanism for Silk City, 5 islands

Kuwait, China sign MoU on finidng mechanism for Silk City, 5 islands
Kuwait, China sign MoU on finidng mechanism for Silk City, 5 islands
KUWAIT, Nov 18 (KUNA) -- Kuwait and China signed a memorandum of understanding Sunday on forming a mechanism for development of cooperation for Silk City and the five Kuwaiti islands.
The MoU signing ceremony was held at the National Development and Reform Commission headquarters in Beijing, China, Kuwaiti Ambassador to China Samih Hayat told KUNA.
Head of the apparatus for developing the planned Silk City and Boubyan Island Faisal Al-Medlej signed the deal for the Kuwaiti side, while NDRC's Vice Chairman Ning Jizhe signed for the Chinese side, added Hayat.
Prior to signing, the two sides stressed the importance of boosting their economies through China's 2013 "Belt and Road" initiative and revival of the historic Silk Road, he mentioned.
Kuwait's participation in the Silk Road project reflects His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah's strategic vision "New Kuwait 2030", which aims to transform the country into financial, commercial, and cultural hub at regional and international levels, he said.
Reviving the Silk Road project would restore Kuwait's commercial and economic role in the region, especially since the country enjoys a distinctive geographic location, and also contributes to the prosperity of global economy, added the Kuwaiti diplomat.
There is mutual and substantial consensus between "New Kuwait 2030" vision and "Belt and Road" initiative to revive Silk Road and establish commercial, vital, and safe zone to serve world countries across land and sea routes, he said.
Senior Chinese officials offered their full, practical, and transparent cooperation on ways to benefit from the economic advantages in Silk City and the five Kuwaiti islands, Hayat noted, adding the two countries' leaderships have always expressed their keen interest to match their initiatives and make Kuwait a major commercial center and a base for a network of railways, which starts from China and passes through Central Asia and Gulf states.
Furthermore, the Kuwaiti diplomat indicated the next few days will see continued communication and mutual high-level visits by Kuwaiti and Chinese officials to implement what had been agreed upon between His Highness the Amir and Chinese President Xi Jinping during the Kuwaiti Amir's most recent visit to China. (end) tb.ma