Vietnam, Kuwait step up cooperation

PANO – Kuwaiti Prime Minister Sheikh Jaber Mubarak Al-Hamad Al-Sabad is on an official visit to Vietnam from May 5th to 7th, at the invitation of Vietnamese Prime Minister Nguyen Xuan Phuc.

The visit aims to boost the bilateral friendship and multifaceted cooperation between Vietnam and Kuwait.

Kuwait is among the first Arabian countries to establish diplomatic relations with Vietnam (January 10th 1976). The people of Kuwait have reserved sentiments and respect for the Vietnamese people and the national liberation cause.

In recent years, Vietnam-Kuwait bilateral relations have developed in various aspects, especially in the political realm. In March 2009, Vietnamese Prime Minister Nguyen Tan Dung visited Kuwait, following the Vietnam visit of Kuwaiti Prime Minister Nasser Al Mohammed Al Sabah in May 2007. A number of high-ranking visits have also been paid by officials of the two countries. These visits have opened up opportunities for the development of bilateral cooperation.

PM Nguyen Xuan Phuc (L) and Kuwaiti Prime Minister Sheikh Jaber Mubarak Al-Hamad Al-Sabad checking the Vietnamese honour squad on May 6

Located in the northwest bank of the Persian Gulf, Kuwait owns a lot of natural resources, especially oil, which bring prosperity to the country. In recent years, Kuwait and other countries in the Persian Gulf have tended to invest more in Asian countries, such China and the Republic of Korea.

Therefore, due to the established relationship between Vietnam and Kuwait, bilateral economic-trade cooperation has also seen significant development.

As far as the economy is concerned, the two-way trade in 2015 reached USD $220 million. And Kuwait is now the biggest Middle Eastern investor in Vietnam. The two countries signed a number of agreements, such as the Economic, Science, and Technology Cooperation Agreement, the Trade Agreement, the Aviation Agreement, and more. In February 2016, the Government of Kuwait officially recognized Vietnam as a market economy.

In terms of development, since 1979, the Kuwait Fund for Arab Economic Development has provided Vietnam with preferential loans of USD $160 million. The loans have been funneled into 13 infrastructure projects in rural and mountainous areas of Vietnam. Vietnam and Kuwait have also enhanced cooperation in labor export and education.

Despite Vietnam-Kuwait cooperation’s significant past development, it still fails to meet both sides’ potential. The visit to Vietnam of Kuwaiti Prime Minister Sheikh Jaber Mubarak Al-Hamad Al-Sabad this time aims to promote bilateral friendship and comprehensive cooperation.

Within the framework of the visit, the two sides will exchange notes on international and regional issues of common concern. The visit is expected to open new cooperation opportunities and to create momentum for the two countries to develop their relations in the future.

The visit of Kuwaiti Prime Minister Sheikh Jaber Mubarak Al-Hamad Al-Sabad also confirms Kuwait’s special attention to enhancing Vietnam-Kuwait bilateral relations. Via the visit, Vietnam also reaffirms its special interest in boosting multifaceted cooperation with Kuwait.

Vietnam warmly welcomes the visit and strongly believes that the official visit of Kuwaiti Prime Minister Sheikh Jaber Mubarak Al-Hamad Al-Sabad will be a success.