Pakistan, Kuwait pledge to strengthen economic and energy cooperation
“Pakistan and Kuwait agreed to expand economic cooperation, explore investment opportunities and strengthen their five-decade energy partnership to boost bilater…”
IISLAMABAD —Pakistan and Kuwait have agreed to further strengthen their longstanding ties by expanding investment and economic cooperation across multiple sectors. During a meeting between Prime Minister Shehbaz Sharif and his Kuwaiti counterpart, both leaders reaffirmed their commitment to taking the longstanding friendly relations between the two countries to new heights.
The discussions covered trade, investment, energy projects, people-to-people contacts and other matters of mutual interest. The two sides also agreed to enhance economic cooperation and explore new investment opportunities to strengthen bilateral ties. Separately, Pakistan State Oil (PSO) and Kuwait Petroleum Corporation (KPC) have decided to expand their 50-year-old partnership in the energy sector.
Under the agreement, the two entities will explore new opportunities in fuel supplies, refining and investment to support the development of Pakistan's energy sector. They also pledged to further promote mutual cooperation in the field.
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The development is being viewed as a significant step towards attracting investment in Pakistan's energy, storage and infrastructure sectors. The expanded economic partnership is expected to create new investment opportunities in Pakistan and further strengthen trade and economic relations between the two countries.
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