India & Kuwait to expand cooperation in field of energy & investment; 5 pacts signed

India and Kuwait agreed to expand cooperation in key areas including energy and investment on 8.11.2013 . The two countries reaffirmed that close relations between them are important to tap vast untapped potential. After holding delegation level talks with the visiting Prime Minister of Kuwait, Sheikh Jaber Al- Mubarak Al- Hamad Al- Sabah, the Prime Minister Dr Manmohan Singh said that they discussed the developments of more strategic partnership in the energy sector. He said, it can be done through the long term supply contracts and the establishment of joint ventures in the petroleum and petrochemical sectors. He said , India has proposed several specific projects for investments by the Kuwait Petroleum Corporation.
Dr Singh said that the two sides will undertake discussions on specific proposals and appropriate investment vehicles for channelling Kuwaiti investments in India and a delegation of the Kuwait Investment Authority is expected to visit India in this context. Dr Singh said, Kuwaiti Prime Minister also assured him that the Indian companies will continue to enjoy fair and equal opportunities there.
AIR correspondent reports that the two sides also signed five documents including an agreement on the transfer of sentenced persons, cooperation in the field of sports and youth affairs and exchange of cultural and information programmes, besides cooperation in the field of education.