Brunei, Philippines included in Kuwait’s $27bn Asian deals
Brunei and the Philippines are among Asian countries Kuwait have signed
more than $27 billion of investment agreements with during an Asian
tour this month, reported Reuters on Sunday.
Reuters quoted a report in daily Awan citing Mustapha al-Shamali as
saying that the agreements were in the economic, oil, health and
foreign affairs sectors. “The value of the accords and economic and
commercial protocols are more than $27 billion, with $3 billion to $4
billion of investments and possible commercial partnerships with each
country,” Shamali said.
Shamali and Kuwaiti Prime Minister Sheikh Nasser al-Mohammad al-Sabah
went on a tour of eight Asian countries this month to boost trade ties.
Kuwait would also “cooperate with South Korea, Thailand and the
Philippines, in the health sector”, Shamali said, without giving
Kuwait is talking with Asian countries, including Cambodia, about
securing food supplies and investing in agriculture as the Gulf state
looks to diversify its sources of food, the country’s news agency Kuna
reported on Saturday.
A delegation including the Kuwait Investment Authority, a sovereign
wealth fund, will visit Cambodia, Laos and Myanmar this month to look
at investments in agriculture and industry, Kuna cited Shamali as
saying on Saturday.
Kuwait wants to boost investments across asset classes in Asia with a focus on Japan, China and India, Shamali said last month.
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