Kuwait and Britain sealed on Tuesday a memorandum of understanding on an investment partnership at 10 Downing Street in London.
The signing ceremony was attended by Crown Prince Sheikh Mishaal Al-Ahmad Al-Sabah and British Prime Minister Rishi Sunak.
The Kuwaiti Crown Prince and the British PM also discussed regional and international developments.
The deal was co-signed by Kuwaiti Deputy Premier, Oil Minister, in addition to acting finance minister and State Minister for Economic and Investment Affairs Saad Al-Barak, alongside British Minister of State in the Department for Business and Trade Lord Dominic Johnson.
Kuwait News Agency reported that the British PM received Sheikh Mishaal.
During the meeting, they discussed the distinguished relations between Kuwait and the United Kingdom in all fields, reflecting the depth of the strong historical relations between the two peoples and the two friendly countries, as well as several issues of common interest and the latest developments on the regional and international arenas.
Sunak expressed his happiness with the Kuwaiti Crown Prince’s visit, stressing the strength of the historical relations that extend for more than 100 years between the two friendly countries.
He further expressed his aspiration for more cooperation between Kuwait and the UK.
Moreover, the Crown Prince sponsors during his visit to the UK an event to celebrate the 70th anniversary of the establishment of the Kuwait Investment Office in London.
Regarding commercial exchanges, the historical records pointed out that commercial and business transactions date back over 200 years.
Kuwait is one of the largest investors in the UK, with the Gulf country establishing the Kuwait Investment Office in London in 1953.
Britain seeks to develop its trade with the Gulf countries. In June, the British government launched talks in Riyadh to reach a trade agreement with the Gulf countries. This deal would offer consumers in the GCC countries more British goods and services.
The total trade with the Gulf is GBP 33.1 billion.
On the military level, Kuwait and the UK share tight military ties.
In Feb. 1992, Kuwait and Britain signed an agreement after the liberation of Kuwait in which the UK would supply Kuwait with weapons as well as conduct military exercises.
Kuwaiti Ambassador to Britain Bader Al-Awadhi affirmed that the historic visit of the Crown Prince to Britain reflects the deep ties between the two countries.
"His Highness's visit will strengthen the existing relations between Kuwait and Britain and will open new horizons for cooperation in the economic, security, and cultural fields in a way that will reflect the reality of the strategic relations," he said.
Lord Mayor of London Nicholas Lyons said that the visit - which comes to mark the 70th anniversary of the Kuwait Investment Office in London - continued the tradition of strengthening ties between the UK and Kuwait.
The Kuwait Investment Office had invested in various sectors in the capital, London, indicated Lyons, adding that the long-term commitment on the Kuwaiti side towards doing business in the UK had reflected the vast investment opportunities within Britain.
