BD-Kuwait signs 3 deals, MoU

Bangladesh and Kuwait has inked four agreements in different sectors, including investment, military cooperation and road communications.

The articles were signed after the official talks between visiting Kuwaiti Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah and his Bangladesh counterpart Prime Minister Sheikh Hasina at the latter’s office in Dhaka on Wednesday afternoon.

The two Prime Ministers witnessed the signing of the agreements.

Kuwaiti Minister of Education and Higher Education Dr Bader Hamad Al-Essa and Industries Minister of Bangladesh Amir Hossain Amu signed ‘The Agreement for the Promotion and Reciprocal Protection of Investment’ on behalf of their respective sides.

“This agreement will open up a new door for investment in Bangladesh,” Foreign Secretary Md Shahidul Haque said at a press meet arranged after the deal signing ceremonies were concluded.

Kuwaiti Deputy Minister for Foreign Affairs and Ambassador Khaled Sueliman Al-Jarallah and Bangladesh Home Ministry Senior Secretary Dr Md Mozammel Haque Khan signed the ‘Agreement on Mutual Exemption of Prior Entry Visa for Holders of Diplomatic, Special and Official Passports’.

The agreement between Bangladesh and Kuwait on Cooperation in Military Fields of Training and other areas was signed by Kuwaiti Deputy Minister for Foreign Affairs and Ambassador Khaled Sueliman Al-Jarallah and Principal Staff Office of the Armed Forces Division of Bangladesh Lt Gen Md Mahfuzur Rahman.

The loan agreement between the government of Bangladesh and Kuwait Fund for Arab Economic Development (KFAED) for Financing of Paira Bridge Project was inked by Director General of KFAED Abdulwahab Al-Badar and Economic Relations Division (ERD) Additional Secretary Mahmuda Begum.

It is the 2nd loan agreement in favour of the Paira Bridge Project. Under this deal, the Kuwait Fund will provide a loan amounting to 15 million Kuwaiti Diner equivalents to $50 million.

Earlier, a loan agreement was also signed with KFAED on March 13, 2012 for 14 million Kuwaiti Diner equivalents to $48 million.
Roads and Highways Department under the Road Transport and Highways Division of the Ministry of Road Transport and Bridges is implementing the project.

The construction of the proposed bridge would establish a direct road link between the capital and the southern region of the country, which will ease movement to Paira Sea Port and to one of the most important tourist centres Kuakata, Patuakhali.