Kuwait has signed two memorandums of understanding with the Chinese government on the road and belt initiative for international cooperation in the framework of implementing its strategic vision in making it a safe strategic corridor and a huge trade forum.
The Memorandum of Understanding was signed by Kuwait’s Ambassador to China Samih Hayat on the sidelines of his chairmanship of Kuwait’s delegation to the “Silk Summit 2” forum on the road and belt initiative for international cooperation, sponsored and attended by Chinese President Xi Jinping.
The first memorandum of understanding signed with the state’s China Development Bank is related to development, construction and consultative cooperation, whereas the second, which was signed with the State Urban Planning Commission, is related to organization of consultative planning, the Kuwaiti embassy in Beijing said in a statement, a copy of which was received by KUNA Monday.
It pointed out that Ambassador Hayat signed the memorandums of understanding between the governments of the two countries by directives of the First Deputy Prime Minister and Defense Minister Sheikh Nasser Sabah Al-Ahmad Al-Jaber Al-Sabah, Chairman of the Supreme Planning Council and the Supreme Head of the North Economic Zone.
Meanwhile, Ambassador Hayat affirmed during the forum Kuwait’s support for the “Belt and Road” initiative, which coincides with its strategic vision of making it a safe strategic corridor, a huge trade forum and a network of railways lines starting from China and ending in Jerusalem through Central Asia and strategic countries.
The China Development Bank is the largest government development bank in the world, with more than USD 200 billion in funding over 600 projects under the Infrastructure Initiative of the Belt and Road Initiative since its launch in 2013.