President Nicos Anastasiades and his top aides will depart for Kuwait tomorrow on a two-day visit to the Arab state to hold talks with top government officials, including the country’s Prime Minister and House Speaker.
According to a statement released by the presidential palace yesterday, President Anastasiades will be accompanied by Foreign Minister Ioannis Kasoulides, Finance Minister Harris Georgiades, Energy Minister George Lakkotypis as well as “a large delegation of Cypriot businessmen”.
The Kuwaiti ambassador to Cyprus Ahmed Al-Wuhaib said recently that the visit would be “a culmination of bilateral relations developed during the recent past, particularly since Cyprus joined the EU and the opening of embassies for both countries”.
The visit will witness talks to strengthen ties in various fields, especially in relation to economic ties and investment opportunities, as well as discussing regional issues of common interest in relation to security and stability in the region following the recent developments in the Middle East, added Al-Wuhaib.
Upon his arrival in Kuwait City tomorrow, the president will hold talks with Kuwaiti Prime Minister Sabah Al-Ajmad Al-Jaber Al-Sabah where delegations from both countries will sign bilateral agreements. Meetings will also be held with House Speaker Ali Al-Rashed and members of the Kuwaiti House Finance Committee.
On Wednesday, President Anastasiades will address a business forum organised by Kuwait’s Chamber of Commerce and Industry of Kuwait and the Cyprus Chamber of Commerce and Industry before meeting with the Kuwait Investment Authority and the Kuwait Project Company Holding.
The Cypriot ministers accompanying the president will also hold talks with their Kuwaiti counterparts and other government officials.
Kuwait has proven crude oil reserves of 104 billion barrels (15 km³), estimated to be 10% of the world's reserves. Being a tax-free country, Kuwait's oil industry accounts for 75% of government revenue. Increase in oil prices since 2003 resulted in a surge in Kuwait's economy.
Commenting on the trip to Kuwait, Kasoulides described the two-day visit as a “historic moment” in Cypriot-Kuwaiti relations.
“Cyprus and Kuwait are peace-loving nations which keep away from conflicts, are always keen on stability and seek to find peaceful solutions to various regional issues, primarily Syria, Palestine, Lebanon and Yemen”, he said in an interview with Kuwait News Agency (KUNA) at the weekend.