Investment and joint ventures: Pakistan, Kuwait set up special body

Pakistan and Kuwait on Sunday agreed to set up a high powered special committee, which will meet immediately to identify areas of investment and joint ventures in Pakistan by Kuwaiti entrepreneurs. It was agreed during the talks between President Asif Ali Zardari and Amir of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah here.
The two leaders held wide ranging talks to further bolster their existing close and multi-faceted relations in diverse fields, particularly in the areas of trade and economy.
During the talks, President Zardari was assisted by Advisor on Petroleum and Natural Resources Dr Asim Hussain, Secretary General M Salman Faruqui, Sokesperson to the President Farhatullah Babar and Pakistan''s Ambassador to Kuwait Iftekhar Aziz.
The Amir of Kuwait was assisted by Crown Prince Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah, Prime Minister Sheikh Nasser Al Mohammed Al-Ahmad Al-Jaber Al-Sabah and other Ministers.
During the talks, which were held in a very cordial atmosphere, the two sides discussed at length the prospects of increased bilateral co-operation in various fields, with particular focus on the expansion of ties in economic, commercial, investment, manpower and energy, spokesperson to the President Farhatullah Babar told APP after the talks.
There was unanimity of views on various issues of regional and international importance, as the two sides also exchanged views on the challenges faced by Muslim Ummah, particularly the situation in Afghanistan, Middle East, fight against terrorists and extremists and Pakistan''s role for peace and stability of the region.
About the Middle East situation, President Zardari said that the use of violence was counterproductive, as was the destruction of material assets, adding, it was time that individual and collective capabilities were utilised to bring stability and peace to the region.
The President apprised the Kuwaiti Amir of the multiple security and economic challenges being faced by Pakistan as well as the impact of last year''s devastating floods on the economy. Pakistan needs the support of its true friends like Kuwait at this critical juncture to override these economic challenges, he said.
The President appreciated the contribution of Kuwait Fund for Arab Economic Development (KFAED) in the development projects in Pakistan, including the Neelum-Jhelum Hydro Power Project. He said that the Kuwaiti government could help Pakistan by encouraging the Kuwait Fund and Kuwait Investment Authority for financing its development projects and investing in diverse sectors of its economy.
The President said the Kuwaiti public and private sectors could also take advantage of Pakistan''s investment-friendly policies and environment and can invest in various sectors of economy including agriculture, energy etc.
President Zardari, who had earlier visited Kuwait in February this year to participate in the 50-year celebrations of the independence of Kuwait on the invitation of the Amir of Kuwait, expressed his gratitude for the people and the government of Kuwait for their generous support to Pakistan in difficult times, particularly during the 2005 earthquake and the last year''s devastating floods.
The President thanked the Amir of Kuwait for hosting and looking after around 150,000 Pakistanis, who are working in diverse fields in Kuwait, and said the recruitment of more skilled and semi-skilled Pakistani manpower would help Pakistan overcome unemployment.
He, in this respect, also sought easing of visa restrictions to lessen the difficulties for Pakistani businessmen, bankers and other professionals, intending to visit Kuwait.
President Zardari also called for increased defence cooperation through military exchanges as well as the parliamentary cooperation through exchange of visits of parliamentary delegations.
The President, appreciating the role of Sabah family and Kuwaiti leadership in strengthening bilateral relations with Pakistan and their close association with the Bhutto family, said that during all the PPP governments in Pakistan, there had been a marked upswing in Pakistan-Kuwait bilateral relations.
The Amir of Kuwait, who was appreciative of Pakistan''s role and support in the liberation of Kuwait, following the Iraqi invasion in 1991, extended his all out support for increased trade and economic cooperation between two countries.
He said Kuwait looks with praise the role of Pakistan for promoting peace and stability in the region and beyond.
The Amir of Kuwait expressed his confidence that the visit of President Zardari will help further strengthen the relations between the two countries.
Later, the Amir of Kuwait hosted lunch for President Zardari and his delegation.