UAE and Kuwait hold meticulous discussions on economic and trade cooperation

Dr Thani al-Zeyoudi, UAE’s Minister of State for Foreign Trade, and Ali al-Thaidi – Kuwaiti Consul General in Dubai and Northern Emirates Ambassador and Dr Firas al-Salem – Chairman of the Kuwaiti Business Council in Dubai and Northern Emirates, held talks recently.

Both sides discussed several methods to enhance UAE-Kuwait economic and trade cooperation. Their talks focused on improving bilateral relations in the fields of economy and trade. They also exchanged views on investment opportunities available in different sectors.

Kuwaiti private sector strengthening its presence in UAE

Speaking to KUNA after the meeting, ambassador al-Thaidi noted that there are great opportunities to enhance bilateral trade cooperation as the UAE is considered the largest recipient of Kuwaiti non-oil exports representing 22% of the total.

For his part, al-Salem delivered a similar statement to the media agency, highlighting the Kuwaiti private sector’s interest in strengthening its presence in the UAE in light of the continuous growth of its active economy, advanced infrastructure and legislative systems.

The official expressed his appreciation for the efforts made by the UAE in supporting bilateral cooperation, stressing the importance of bolstering economic ties and exchanging expertise in order to achieve development and prosperity.

UAE and Kuwait bound by several agreements and MoUs

The UAE-Kuwait bilateral relationship is an example of countries eager to enhance cooperation across different fields, including in the financial sector. They are bound by a number of agreements and MoUs that help increase investment and trade exchanges.

The latest of these deals got inked by the finance ministries of both countries in February 2024. They cover the avoidance of double taxation on income and capital and the prevention of tax evasion and avoidance – part of their journey to improved financial integration.