KUWAIT AND CROATIA SIGN DEAL ON INVESTMENT STIMULATION

KUWAIT, March 8 (Hina) - Kuwait and Croatia, on Saturday signed an agreement on mutual stimulation and protection of investment, which creates prerequisites for the strengthening of economic cooperation between the two countries. Kuwaiti Finance Minister Nasser Abdullah Al-Rodhan and Croatian Economy Minister Davor Stern signed the deal in the presence of Croatian Premier Zlatko Matesa. Croatian Premier Matesa, leading a Croatian delegation, arrived in Kuwait on Saturday on a two-day official visit the purpose of which is to give an incentive to the currently undeveloped economic ties between the two countries. The trade between Kuwait and Croatia does not rise above US$ 200,000 a year. Croatia is particularly interested in attracting Kuwaiti capital to Croatian projects as well as in including Kuwaiti banks in the Croatian capital market. Premier Matesa and Kuwaiti Finance Minister Nasser discussed possibilities of Kuwaiti investment into Croatia. "I hold that developments are going to be favourable and that within good and friendly relations of Kuwait toward Croatia we have come to the point when we talk about concrete things," Premier Matesa said after the talks Speaking of concrete proposals expressed at the meeting, Matesa said they had considered that Croatian debts to Kuwait should be transformed into Kuwaiti investment in Croatian economy, according to an agreement with the Paris Club. The Kuwaiti side accepted this "with approval and I think that several projects will be realised in this regard," Matesa added. For instance, Croatia has proposed to Kuwait to transform US$ 150- million Croatian debt, incurred for Adriatic oil pip-line construction, into a Kuwait share in the Adriatic oil pipeline. Premier Matesa also met Kuwaiti Defence Minister Sheikh Salem Sabah Al-Salem Al-Sabah. An assistant to the Croatian Defence Minister, Vladimir Zagorec and the director of the special car manufacture ('Djuro Djakovic'), Bartol Jerkovic, took part in those talks. On Sunday Premier Matesa and the Croatian delegation will meet officials of Kuwaiti Investment Agency and Kuwaiti businessmen. (hina) mš 081943 MET mar 97