Kuwait and Georgia concluded two agreements on economic cooperation during Georgian President Mikhail Saakashvili’s first visit to Kuwait last week.
The two accords, a convention for the avoidance of double taxation and fiscal evasion with respect to taxes on income, and another on promoting and protecting bilateral investment, were signed by Georgian Economic Development Minister Zurab Pololikashvili, and Kuwaiti Minister of Finance Sheikh Ahmed Abdullah Al-Ahmad Al-Sabah.
When the agreements enter into force they will encourage increased trade and investment between entrepreneurs in the respective countries by removing double taxation and laying a beneficial legal framework.
During the course of the Georgian delegation’s visit, the two parties discussed in particular furthering economic ties. In order to facilitate joint ventures, the delegation agreed upon an investment forum, to held on October 28. As an offshoot from the meeting, the Kuwait Foundation agreed to invest in education projects in Georgia.
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