Iranian Finance and Economic Affairs Minister Ali Tayyebnia and Kuwaiti Finance Minister Anas Al-Saleh signed a customs cooperation agreement.
An agreement on cooperation in the field of tourism was signed by the director of Iran’s Cultural Heritage, Handicrafts, and Tourism Organization, Masoud Soltanifar, and Kuwaiti Commerce and Industry Minister Abdulmohsen Al-Madaj.
“Bilateral trade stands at just $150 million, which is far below the expectations of both nations,” Al-Madaj told the Kuwait News Agency.
He asked the businesspeople of the two countries to help increase the trade volume through building partnerships and tapping into the huge investment opportunities in both the public and private sectors.
“The two countries have a lot in common, such as religion, neighborliness, history, and culture,” he stated, adding that these factors can help catalyze their economic relations.
“We seek to improve tourist relations in order to ensure mutual benefit, given the fact that Iran is a main tourist destination for Kuwaitis due to its scenic cities and cultural affinities,” he added.
Meanwhile, Kuwaiti Oil Minister Ali Al-Omair said that Kuwait’s need for natural gas can be met if an agreement is reached to start importing the commodity from Iran.
He went on to say that oil and gas was on the agenda of the bilateral talks between Kuwaiti Emir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah and Iranian President Hassan Rouhani on Sunday.
As the countries are two of the biggest exporters of oil, they can both “exchange expertise and cooperate in the fields of extraction, marketing, and refining of oil,” Al-Omair stated.
The two countries also signed an agreement on environmental protection and sustainable development. Iranian Environmental Protection Organization Director Masoumeh Ebtekar and Al-Omair, who is also Kuwait’s minister of state for National Assembly affairs, signed the agreement.
The document calls for cooperation in waste management, environmental protection, sustainable development, efforts to improve the environment of urban areas, dealing with pollution, addressing desertification, and managing and preserving water resources.
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