‘India,Kuwait have great political and economic relationship’
KUWAIT: An articulate diplomat, Ambassador M Ganapathi arrived in Kuwait on January 5, 2006 as the new Indian ambassador to Kuwait after having previously served in Belgrade, Bulgaria, London, Moscow, Singapore and Sydney.
At the end of his tour of duty in Kuwait, the outgoing Indian Ambassador paid glowing tribute to Kuwait for the wonderful hospitality of the people and underlined that India and Kuwait have a great political and economic relationship. The ambassador acknowledged that Kuwait had been a wonderful place to work as a diplomat and added that he was taking along pleasant memories of his stay here.
Ambassador Ganapathi said, “I leave Kuwait with mixed feelings, with a tinge of sorrow, as one always feels, leaving a place where you have settled down well, professionally and personally.”
While elaborating on the relationship between India and Kuwait, he said, “The relations between India and Kuwait are historical, centuries old and time tested. They are durable and enduring, comprehensive and multifaceted. These are extensive and ever expanding and vital to the fabric of our bilateral relationship.”
“I’d say that the political relationship between our two countries has been and is excellent. Our economic relations have been progressing exceptionally well, and our cultural cooperation is moving at a steady pace.”
What commenting on the shifts observed in Indo-Kuwait relations during his tenure as an Ambassador, he said, “Our bilateral relations have been strengthened by regular high-level interaction. The highpoint was the visit of His Highness Sheikh Sabah Al-Ahmad Al-Jaber Al Sabah, the Amir of the State of Kuwait to India in June 2006. This was a landmark and momentous development in the intensification of bilateral relations.”
“We were very happy that the first ever meeting of the Indo-Kuwait Joint Ministerial Commission for Trade, Economic, Scientific and Technological Cooperation was able to take place in Kuwait in November 2006.The second meeting of the Indo-Kuwait Joint Ministerial Commission was held in July 2008, in New Delhi.”
“From the point of view of the labor sector, a Memorandum of Understanding (MoU) on Labor, Employment and Manpower Development was signed in Kuwait in April 2007.”
“In the area of trade and investment, our annual non-oil bilateral trade stands at over one billion US dollars. Kuwait is the second largest supplier of crude oil and an important source of energy security to India,” stated the envoy.
“The most important encouragement in terms of economic, trade and investment cooperation is the fact that we have an agreement for Mutual Promotion and Reciprocal Protection of Investments (BIPA) and also a Double Taxation Avoidance Agreement (DTAA) between India and Kuwait. Thus, while there has been investment in marketable securities and investment through third countries, the BIPA and DTAA should provide an opportunity and comfort for direct investments.”
“The Indian government has created an investor friendly environment through amendment of various laws and by providing new laws which create an ideal, investor friendly environment to attract foreign direct investments (FDIs) into India. The BIPA and DTAA should also encourage mutual investments besides looking at third country opportunities,” added the ambassador.
Ambassador Ganapathi is heading to Mauritius as India’s High Commissioner and says that he looks forward to this new assignment.
–Ends–
Keywords:: Ambasador Ganapathi, India,Kuwait
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