Kuwait, Italy to form joint investment company

Kuwait and Italy are in the final stages to form a joint investment company with a 20 percent stake for Kuwait and 80 percent for Italy, a joint declaration said on Tuesday.The declaration came after a meeting here today between visiting Italian Prime Minister Enrico Letta and his Kuwaiti counterpart Sheikh Jaber Al-Mubarak Al-Sabah. Participants in the company will be Kuwait's Public Authority for Investment and the Italian Strategic Fund.It is expected that the agreement for establishing the company will be officially signed in early March of this year. Kuwait's share in the new company will be 500 million euros, indicated the declaration. The two prime ministers discussed bilateral relations and means of boosting them with the emphasis on economic and military cooperation and reviewed regional and international issues such as the situation in Syria and the Iranian nuclear issue and developments in Egypt as well as the Palestinian-Israeli peace process and the dangers terrorism presented to the world.