Sharm el Sheikh will host meetings of Egypt-Kuwait Cooperation Council next Wednesday, with the participation of presidents of major companies in the two countries, said Trade and Industry Minister Tarek Qabil.

During his meeting Thursday with Kuwaiti Ambassador to Egypt Salem al Zamanan, Qabil said that Egypt always welcomes Kuwaiti investments, especially in light of the distinguished economic ties binding the two countries.

He also hailed Kuwait's efforts in supporting Egypt over the past period.

Talking about Egypt-Kuwait Cooperation Council, Qabil said that this council plays a crucial and effective role in promoting joint ties between the two countries in the various fields.

The trade ties binding the two countries are witnessing a slight improvement, Qabil said, adding that the ministry seeks to develop trade ties with Kuwait within the upcoming period.

Qabil also said that he received a message from the Kuwaiti trade and industry minister to take part in proceedings of 1st edition of the International Kuwait Trade Fair (IKTF), which is due to be held in February.

Participation in this exhibition will be a good opportunity to attain interaction between the Egyptian companies and their Kuwaiti counterparts, he added.

The Kuwaiti ambassador, for his part, said that the distinguished ties binding Egypt and Kuwait represent a launching pad to attain further cooperation in the various spheres and sectors.

He also underlined the importance of Egypt's participation in International Kuwait Trade Fair, adding that the fair will contribute to opening new aspects of cooperation to promote trade ties with Egypt and the participating countries.

The Kuwaiti Chamber of Commerce seeks to promote Kuwaiti investments in Egypt, which is estimated at about 2.8 billion dollar in 964 projects, he noted.