| The first meeting of the Sub-Committee on trade, economic, technical, financial and investment cooperation under the Intergovernmental Russian-Kuwaiti Commission on Trade, Economic, Scientific and Technical Cooperation was held in El-Kuwait on the 12th of September, 2011. Chairman of the Russian-Kuwaiti and Russian-Omani business councils Sergey Tishkin was among the members of the delegation participating in the Sub-Committee meeting headed by Peter Fradkov, Member of the Board of Directors, Deputy Chairman of the State Corporation "Bank for Development and Foreign Economic Affairs (VEB). The Kuwaiti delegation was headed by Mr. Abdul-Aziz Mishal Al-Khaledi, First Deputy Minister of Trade and Industry of the State of Kuwait. The Parties discussed in a friendly atmosphere the current level and prospects of bilateral economic and trade cooperation, and noted that, despite the steady increase in trade within the last two years, the achieved results do not correspond to the potential of the two economies. The Parties noticed the importance of the bilateral investment cooperation. The Russian side informed the Kuwaiti side about the principles activities of the recently established Russian fund of direct investments and the investment opportunities in the Russian market and offered to consider the feasibility of establishing a mechanism of regular consultations on investment issues between the Ministry of Economic Development and the Kuwait Investment Agency. The Parties agreed to hold on a regular basis meetings of the Sub-Commission in the period between meetings of the Intergovernmental Russian-Kuwaiti Commission on Trade, Economic, Scientific and Technical Cooperation (hereinafter – Commission) in order to coordinate efforts to secure the most efficient implementation of the decisions and arrangements of the Commission. |
