Kuwait / Iraq: Two agreements signed and more to follow

After the Arab summit in March at Baghdad calling for closer ties amongst Arab nations on all possible levels, a Kuwaiti delegation returned to the same country to put theory into practice.
After the US invasion of Iraq and the ousting of Saddam Hussein, the new Iraqi government is getting the country back on its heels and it is trying to encourage investments into the country despite daily bombings.
A joint Iraqi-Kuwaiti committee was set up between the two states since 2011 to elaborate on bilateral relations. During the visit, they discussed matters relating to their relationships and the navigation through the Abdullah waterway. Both sides agreed upon a number of protocols and cooperation in various sectors.
Bilateral trade, exchanges and investments were highly discussed at the meeting since Iraq is inviting Kuwait’s private sector to venture in the metallurgy and construction industry. They agreed to base the regulations for navigating through the Abdullah waterway on international resolutions governing the maritime world. Double taxation was also proposed as a move to encourage investments, commercial and technical cooperation between them. War compensations were also thoroughly debated with discussions to continue at the next meetings.
At the end of the day, both countries signed the minutes of the meeting held between the joint Iraqi–Kuwaiti committee and the agreements that they submitted concerning the formation of a cooperation committee and the regulations of the Abdullah waterway. The Deputy Prime Minister, Foreign Minister and Minister of State for Cabinet Affairs signed for Kuwait and Iraq’s Foreign Minister signed on their behalf. This is the second meeting of the committee since it was formed in 2011. The third round will be held next year in March.

Written by