By Adnan Al-Failakawi, KUNA,
Kuwait : Algerian President Abdul Aziz Bouteflika will begin a state visit to Kuwait on Saturday, during which he will hold talks with His Highness the Amir, Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, aimed at promoting bilateral relations in various fields and ways to achieve security and stability in the region.
Algerian officials have confirmed the good relations between the two countries on many occasions, stemming from the Kuwaiti support for the Algerian revolution back in November 1954, which have been on the rise since then.
In previous statements, Algerian Prime Minister Abdulaziz Belkhadim said that Kuwaiti investments in Algeria have increased, since the rule of Sheikh Sabah, which indicates a commitment to develop economic relations with Algeria.
Previous visits by officials of the two countries include a visit to Kuwait, paid by former Algerian President Chadli Bin Jadid in March 1980, and a visit to Algeria by former crown prince Sheikh Saad Al-Abdullah Al-Sabah, in December 1981, which resulted in the formation of a joint cooperation committee.
Kuwait and Algeria also set up a joint investment fund in April 1999, with an estimated capital of USD 178 million for tourism, monetary, mining and industry purposes.
The two countries have also signed an agreement an preventing double taxation to encourage investments in both countries, back in May 2006.
Chairman of Kuwait Chamber of Commerce Ali Thunayan Al-Ghanim beleives that trade relations between the two states need improvement, and that private corporations on the two sides need to increase the exchange of investments.
Recent figures obtained by Kuwait Fund for Arab Economic Development (KFAED) show that Kuwait has granted four loans to Algeria which add up to a total of KD 29 million (USD 109.5 million) to assist agriculture and energy.
At the cultural level, Kuwait launched the Kuwaiti Cultural Week, in February 2007, which included an exhibition of photography and art, amongst other various activities and displays of poetry.