Kuwait's Official Gazette Confirms Iraq's Official Gazette RE: Compensation Agreement
FROM THE OFFICIAL "KUWAITI GAZETTE!"
• Baghdad welcomes Kuwait Amir''s approval of KAC-Iraqi Airways financial
23/10/2012 | 08:35 PM | Gulf News تصغير الخطتكبير الخط
Baghdad welcomes Kuwait Amir''s approval of KAC-Iraqi Airways financial
settlement BAGHDAD, Oct 23 (KUNA) -- Iraqi Foreign Minister Hoshyar Zebari hailed on Tuesday the decision of His Highness the Kuwaiti Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah approving the settlement of the financial dispute between Kuwait Airways Corporation (KAC) and Iraq Airways.
"The decision will help promote the bilateral ties between the two sisterly countries," Zebari said in a press release by his Ministry of which KUNA received a copy.
"The move removes all hurdles facing the bilateral ties and enables Iraqi Airways to step up its rehabilitation process and enhance its fleet," he added.
Zebari has received a phone call earlier today from Kuwaiti Deputy Prime Minister and Foreign Minister Sheikh Sabah Al-Khaled Al-Sabah affirming the decision of HH the Amir, according to the statement.
The Amiri decree in this regard has been published in Kuwait Gazette today; a copy of the decree was sent to KAC's lawyer in London to stop the claims to Iraqi Airways assets, the statement added.
Meanwhile, Spokesman of the Government Ali Al-Dabbagh said Kuwait's consent to settle the issue of KAC's compensations and stop all KAC's lawsuits against Iraqi Airways was an important step and good initiative.
"This step will pave the way for closer ties in the light of the outcomes of the recent visit by Iraqi Prime Minister Nouri Al-Maliki to Kuwait," Al-Dabbagh told reporters here.
The bilateral ties thawed remarkably in the recent months since HH Amir paid a historic visit to Baghdad in late march this year. On April 30 Kuwait Ambassador to Iraq Ali Al-Mo'men announced plans to open two consulates in Irbil, north Iraq, and the southern city of Basra.
Under the final financial settlement of the two-decade old dispute, Iraq has to pay USD 500 million in damages to KAC.
In a related development the Iraqi government set aside USD 200 million of the budget of FY 2013, in addition to USD 300 million allocated in FY 2012, to the implementation of the financial settlement deal between the Iraqi Ministry of Transport and Kuwait Ministry of Communications, Al-Dabbagh revealed. (end) mhg.gb KUNA 232035 Oct 12NNNN
• The Ministry of Foreign Affairs announces the approval of Kuwait to settle the issue of airline
BAGHDAD - babysit -Foreign Ministry announced the approval of the State of Kuwait to settle the issue of Kuwait Airways.
A statement issued by the ministry today received news agency public opinion (and babysit) a copy of that "Sheikh Sabah Al-Khalid, Deputy Prime Minister and Foreign Minister of Kuwait made contact with Foreign Minister Hoshyar Zebari, the day in which ♦♦♦ he confirmed the approval of the State of Kuwait to resolve the issue of Kuwait Airways and signed the Amir of Kuwait Emiri decree to a decree law to approve the financial settlement that has been reached between the two sides. "♦♦♦
He added that he "informed Zebari that law has been♦♦♦ published today in the Official Gazette of Kuwait,♦♦♦
♦♦♦ and law firms have been informed in Britain to halt all proceedings on the Iraqi Airways and property in Iraq."♦♦♦
The statement continued that "the two sides they had signed a final settlement by the Iraq to pay $ 500 million in compensation final to Kuwait Airways Such a decision to lift all restrictions and complications on rebuilding Iraqi Airways and freedom to buy new aircraft and the establishment of its air fleet."
The statement noted that "the foreign minister praised the Kuwaiti decision and its importance to strengthen bilateral relations between the two brotherly countries and peoples." Q, Q
Iraqi bloc applauds airlines settlement with Kuwait
KUWAIT: An Iraqi political bloc welcomed Kuwait’s Amir HH Sheikh Sabah Al-Ahmad Al-Sabah’s approval for a $500 million settlement between the two countries’ airlines, a decision they described as “a positive step that needs to be followed with similar steps to settle the remaining pending issues.”
“We applaud this step which effectively ends the lawsuits filed by Kuwait against the Iraqi Airways,” said Free Iraqiya Bloc member Aliya Nusayef. “In the meantime, we see the need for it to be followed with similar steps to end pending issues between the two countries.”
Urging Kuwait to consider “neighborly relations” as well as “the current situation in Iraq,” Nusayef hoped that other issues, including “joint oil wells”, “unfair border demarcation as per UN Resolution 833,” as well as “lifting sanctions under Chapter VII of the UN Charter” be also settled. Kuwait’s Foreign Minister Sheikh Sabah Al-Khalid Al-Sabah told his Iraqi counterpart Hoshyar Zebari that HH the Amir Sheikh Sabah Al-Ahmad Al-Sabah signed a decree authorizing the settlement under which Iraq will pay Kuwait $300 million in cash and invest $200 million in a joint airline venture. The agreement allows the Iraqi Airways to rebuild its fleet and obtain new aircrafts for the first time in 22 years.