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China and Kuwait conclude five pacts

CHINA and Kuwait signed agreements on oil and gas and the environment yesterday.

Chinese President Hu Jintao and the Emir of Kuwait, Sheik Sabah Al Ahmad Al Sabah, held brief talks yesterday and then presided over the signing of five agreements. Among them are pacts on energy and Kuwaiti financing for a US$24 million cleanup of Bosten Lake in northwest China's Xinjiang Uygur Autonomous Region.

"We attach great importance to advancing cooperation with China in various fields, including cooperation in economy and trade and politics," the emir told Hu.

The Chinese and Kuwaiti governments and two of their state-owned oil companies have held discussions in recent weeks over a long-stalled refinery and petrochemical complex.

The project by Kuwait Petroleum International and Sinopec Corp has been estimated at US$9 billion - the single largest Chinese-foreign joint venture.

Talks have plodded along for more than half a decade, and late last month hit another snag. China rejected the investors' preferred location in Guangzhou, citing concerns over pollution.


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