Ambassador speaks high of upcoming investment forum

The China-Kuwait investment forum, which will kick off on Thursday, is an event vital for bilateral relations as one of the largest economic gatherings between the two countries, Kuwaiti Ambassador to China Samih Johar Hayat said.

Hayat said bilateral relations between Kuwait and China are witnessing a remarkable stage of cooperation.

A Kuwait economic delegation, led by Finance Minister Nayef Al-Hajraf, arrived in Shanghai on Tuesday. They will join the opening of the first China-Kuwait investment forum on Thursday.

The forum, organized by the Kuwait Investment Authority, is designed to strengthen economic cooperation between the two countries and exchange experiences in their development. A number of topics will be covered, including the banking system and monetary policy, the development of Kuwait's capital market and Kuwait vision in 2035.

On Monday, Kuwait and China signed a memorandum of understanding on developing cooperation for Silk City and five Kuwaiti islands, Hayat added.

Import and export between the two countries hit $12 billion last year, an increase of 28.5 percent year-on-year, according to the General Administration of Customs.