1-Jul-2012,Kuwait Foreign Investment Bureau(KFIB) participated in the 6th meeting of the joint Kuwaiti – Finnish Committee for Economic and Technological Cooperationin Helsinki, Finland,during the period June 8th 12th, 2012, as part of the Kuwaiti delegation headed by the Undersecretary of the Ministry of Commerce and Industry. The 5th meeting of the Committee was held in Kuwait in 1997. Both sides have agreed to hold the upcoming 7th meeting in Kuwait in 2013.

The representative of Finland’s Investment Promotion Agency briefed the delegation on the potential investment opportunities in Finland. On its part, KFIB presented an overview of the investment climate in Kuwait, and the main highlights of Law No. 8/2001 regulating Direct Foreign Capital in the State of Kuwait.

The two sides expressed their willingness to further advance economic and technical cooperation, and agreed to provide full support to their relevant organizations to promote closer coordination, aiming to proceed with the strong trade and investment relations between the two countries.

It was also agreed to hold the second round of negotiations between Kuwait and Finland concerning the bilateral treaty for Avoidance of Double Taxation, with respect to taxes on income, on September 10-12, 2012. The first round was held in Helsinki back in April, 2009.

Already Kuwait-and Finland had signed the bilateral investment treaty on the Encouragement & Protection of Investment on March 10, 1996, which entered into force on May 21, 1997