Kuwait Times, Saturday, Mar 25, 2023 | Ramadan 3, 1444
San Marino, Kuwait initial an agreement on investment protection
Kuwait :
The governments of the State of Kuwait and the
Republic of San Marino signed, in principle, have inked a bilateral agreement to
frame common financial and investment aspects within the framework of
strengthening and developing excellent bilateral relations.
The Kuwaiti embassy said in a statement to Kuwait News Agency (KUNA) Friday that
the Assistant Undersecretary at the Ministry of Finance, Osama Jassem Al-Qassar,
and the Director of Economic Affairs at the San Marino Ministry of Foreign
Affairs, Dario Galassi, initialed last Thursday an agreement to encourage and
protect investments and prevent double taxation between the two countries.
The statement said that the signing of the agreement (in initials) pending its
approval by the governments of the two parties came after precise and fruitful
technical deliberations held by a high-ranking Kuwaiti delegation with officials
of San Marino at the headquarters of the Republic’s Foreign Ministry.
For his part, the Ambassador of the State of Kuwait in Rome and the non-resident
envoy to the Republic of San Marino, Nasser Al-Qahtani, welcomed this important
step that lays down legal frameworks and foundations that support and encourage
mutual investments and enhance aspects of economic relations between the two
countries.
Ambassador Al-Qahtani congratulated the delegation of the Kuwaiti Ministries of
Finance and Foreign Affairs on the success of the negotiation with high
professionalism and the achievement of this accord, which adds foundations for
building and developing friendship relations and pushing forward fruitful
cooperation between the State of Kuwait and San Marino.
He added that he was looking forward to endorsing it as soon as possible.
The Kuwaiti delegation was headed by the Assistant Undersecretary for Financial
and Tax Affairs at the Ministry of Finance, Osama Al-Qassar, with the membership
of the Head of the Investment Agreements Department, Suhail Fahd Al-Zanki, and
the observer of international agreements in the Legal Department of the Ministry
of Foreign Affairs, Ahmad Abdul Rahman Al-Buaijan.