Luanda - Angolan diplomat Júlio Maiato was accredited, on Wednesday in the State of Kuwait, as Non-Resident Ambassador.
The Angolan diplomat presented the letters of credentials to that country's authorities on the Arabian Peninsula, located northwest of the Persian Gulf, in a ceremony in which nine (9) foreign diplomats were also accredited.
On the occasion, the Head of the Angolan Diplomatic Mission in the United Arab Emirates expressed to the Kuwaiti authorities the desire to begin a new phase with the establishment of a legal instrument of bilateral cooperation between the two countries, as well as the creation of conditions for ongoing projects in Angola to be financed through various Funds existing in Kuwait.
The Kuwait Sovereign Fund (Kuwait Investment Authority), the 4th largest in the world, has capital of US$980 billion.
This Arab state also has the Kuwait Fund for Economic Development created for financial and technical assistance to countries in need and has already granted a total of 1,056 loans to 120 beneficiary countries, totaling US$22.1 billion.
Likewise, more than 300 grants and technical assistance packages were provided to 88 countries and institutions, totaling US$318.9 million.
In the business field, the Kuwait Chamber of Commerce and Industry brings together more than 40 thousand companies.
This is, for the Angolan authorities, a good partner to increasingly cement closer ties with companies from both states.
On the occasion, the minister of Foreign Affairs of the State of Kuwait, Abdullah Ali Al-Yahya, highlighted the excellent relations between the two countries.
The official also made reference to strengthening ties of friendship and bilateral cooperation, mainly in the oil sector.
He also expressed the great interest of the Kuwaiti side in cooperating with Angola with regard to food security as it represents one of the main priorities of his government.
Aiming to promote investments and boost commercial exchanges between the two countries, the Kuwaiti official highlighted Ambassador Júlio Maiato's recommendations to strengthen relations between the Angolan Diplomatic Mission and the different funds created and the local Chamber of Commerce and Industry.
On the sidelines of the ceremony, Ambassador Júlio Maiato held a brief meeting with the Africa director of the Kuwaiti Ministry of Foreign Affairs, Nayef Al-Mudahaf.
During the meeting, the current state of relations between the two countries was reviewed.
The State of Kuwait, led by the Emir, Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah, has the United Arab Emirates, China, Saudi Arabia, South Korea, USA and Japan as its main partners.
Kuwait has a well-developed banking system and several banks in the country date back to the time before oil discovery.
With a Gross Domestic Product (GDP) growth rate of 5.7%, Kuwait has one of the fastest growing economies in the Middle East and Arab world.
In addition to the State of Kuwait, the Kingdom of Bahrain, Afghanistan (currently the Islamic Emirate of Afghanistan) and the Islamic Republic of Pakistan are part of the coverage area of the Embassy of the Republic of Angola in Abu Dhabi, as well as the International Agency for Renewable Energy (IRENA), based in Abu Dhabi.
The Republic of Angola and the State of Kuwait signed the agreement that formalized the establishment of diplomatic relations between the two countries on Nov 20, 1997.
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