Sovereign Wealth Fund Institute

Cristina Kirchner

According to the AFP, “Argentine President Cristina Kirchner on Sunday oversaw the signing in Kuwait of seven accords to boost cooperation with the oil-rich emirate at the start of a two-day visit.

Kirchner, on her first trip to the Gulf state, was greeted at the airport by Emir Sheikh Sabah al-Ahmad al-Sabah and other leaders, the official KUNA news agency said.  After the two leaders held official talks, the governments of the two countries signed the agreements on boosting cooperation in the fields of investments, agriculture and sports.

The accords cover economic and technical cooperation, a trade deal, two separate accords between Argentina and Kuwait Investment Authority, or the sovereign wealth fund, and Kuwait Fund for Arab Economic Development.

They also signed accords for cooperation in the fields of health, agriculture and sports.”

Read more: AFP

According to BI-ME, “Kuwait and France on Thursday signed an initial agreement on nuclear cooperation that includes exchanging expertise on the field, the official news agency KUNA reported. The agreement encourages the peaceful use of atomic energy to bring in vital energy resources such as electricity, the report said, without providing any details of the cooperation. Earlier on Wednesday KUNA had reported that Kuwait may be interested in acquiring a stake in France’s nuclear giant Areva, citing unidentified industry sources.

‘Areva says it needs the capital injection to finance the expected rapid development in the nuclear market,’ Kuna said.

The news agency added that Anne Lauvergeon, the CEO of Areva, did not give details on ongoing contacts with potential investors, ‘but industry sources have said that Kuwait could be interested in taking a stake in Areva’.

Lauvergeon reportedly said Wednesday that the talks taking place with potential partners are at a government-to-government level and that a number of partners were involved. In March, Deputy Prime Minister and Minister of Defence Sheikh Jaber Moubarak Al-Hamad Al-Sabah said Kuwait will cooperate with France in the field of nuclear power, hinting it could take a stake in the nuclear group Areva. The Financial Times also said in March that the French government was considering opening the share capital of Areva to Middle Eastern investment funds with a view to reinforcing its political influence and the nuclear group’s prospects in the region. Exploratory talks had been held about the possibility of sovereign wealth funds buying minority stakes of 1%-5% in Areva, which is majority owned by the French government, the FT said, citing people close to the matter.”

read more: Business Intelligence Middle East