China, Kuwait sign energy agreements

June 4, 2014

China and Kuwait inked energy deals on June 3 ahead of an annual forum of China and Arabian countries in Beijing this week, China Daily said on June 4.

Premier Li Keqiang and visiting Kuwaiti Prime Minister Sheikh Jaber al-Mubarak al-Hamad al-Sabah officiated at the signing ceremony after an hourlong meeting.

Under the agreements, the National Energy Administration and Petro China Co Limited, China's largest oil and gas producer and supplier, will deepen cooperation with the Gulf country. China also won support from Kuwait, which is chairing the Gulf Cooperation Council and the League of Arab States this year, in the promotion of the establishment of an Asian investment bank — a multilateral bank to develop infrastructure projects — a proposal that China has long advocated.

During the meeting, Li urged Kuwait to open up its upstream market in oil and gas development to Chinese companies. He recalled his visit in 2008 to Kuwait, during which al-Sabah, then the deputy prime minister, accompanied Li throughout the trip, an event that the premier said is still "vivid" in his mind. China hopes Kuwait will continue to make efforts to restart talk of a free trade area between China and Gulf countries, he said.

Copyright: China Daily, 2014