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The Government of the Hong Kong Special Administrative Region and the Government of the State of Kuwait today (July 9) signed a Letter of Intent regarding an Investment Promotion and Protection Agreement.
The Letter of Intent was signed at Government House by Mr John Tsang (Secretary for Commerce, Industry and Technology) for Hong Kong and His Excellency Abdullah Abdelrahman Al-Taweel (Minister for Commerce and Industry) for Kuwait.
The Chief Executive, Mr Tung Chee Hwa, and the visiting Prime Minister of the State of Kuwait, His Highness Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, witnessed the signing ceremony.
In the Letter of Intent, the two governments pledge to negotiate and conclude an investment promotion and protection agreement in the spirit of co-operation and in the mutual interest of both places.
A government spokesman said, "The Letter of Intent underlines the strong investment ties between Hong Kong and Kuwait and the two governments' determination to enhance the environment for greater investment by investors of one side in the area of the other."
Ends/Friday, July 9, 2004
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