Kuwait, Armenia Sign Agreements To Enhance Cooperation

by Lorys Charalambous, Tax-News.com, Cyprus

10 November 2009

During an official visit by an Armenian delegation, led by the country's President, Serzh Sargsyan, several agreements were signed to enhance economic relations including an agreement for the avoidance of double taxation and fiscal evasion.

The agreement was signed alongside agreements to enhance cooperation various spheres including agriculture, education, culture and tourism.

Sargsyan and Kuwaiti Prime Minister Nasir Al-Sabah welcomed the signing intergovernmental agreements as a “significant result of the visit of the President of the Republic of Armenia and an important step in moving cooperation of the two countries forward.” Later in the week, the President of the Commerce and Industry Chamber of Kuwait, signed an agreement on cooperation with the Commerce and Industry Chamber of Armenia, and it was also agreed that efforts should be redoubled to conclude negotiations for the signing of an agreement on encouraging and mutual protection of investments.

Concluding the meeting, both delegations agreed that trade and investment could be substantially increased between the two countries, and to that end arranged that a delegation of Kuwaiti businessmen would return to Armenia to discuss possible joint ventures. The two countries also agreed upon the establishment of embassies in each other’s territory to further foster greater bilateral cooperation.

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