Skip to main content

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, along with Dr. Firas al-Salem, Chairman of the Kuwaiti Business Council in Dubai and Northern Emirates, recently held talks to enhance UAE-Kuwait economic and trade cooperation. Their discussions centered on strengthening bilateral relations in the fields of economy and trade, and they exchanged views on investment opportunities across various sectors.

Kuwaiti Private Sector Strengthening Its Presence in the UAE

Following the meeting, Ambassador al-Thaidi emphasized to KUNA the significant opportunities to enhance bilateral trade, noting that the UAE is the largest recipient of Kuwaiti non-oil exports, accounting for 22% of the total. Similarly, Dr. al-Salem highlighted the Kuwaiti private sector's interest in expanding its presence in the UAE, attracted by the country's robust economy, advanced infrastructure, and favorable legislative systems. He expressed appreciation for the UAE's efforts in supporting bilateral cooperation and stressed the importance of strengthening economic ties and sharing expertise to achieve mutual development and prosperity.

UAE and Kuwait Bound by Agreements and MoUs

The UAE-Kuwait relationship serves as a model of cooperation across various fields, including the financial sector. The two countries are bound by several agreements and Memorandums of Understanding (MoUs) that facilitate increased investment and trade exchanges. The most recent agreement, signed by the finance ministries of both nations in February 2024, addresses the avoidance of double taxation on income and capital and the prevention of tax evasion, marking another step towards improved financial integration.
Labels:

Comments

Post a Comment

Popular posts from this blog

Sky Care: How the UAE’s First Hospital Vertiport is Redefining Emergency Response

  Imagine a critical patient, a time-sensitive organ for transplant, or a specialist medical team needed across a bustling city. On the ground, traffic is a formidable adversary, where every minute lost can alter outcomes. Now, imagine that same journey taking minutes instead of an hour, not by navigating the roads, but by soaring gracefully above them. This is not a scene from a sci-fi film; it is the new reality in the United Arab Emirates. In a landmark move that solidifies its position on the global stage of innovation, the UAE has officially launched the nation’s — and the region’s — first hospital-based vertiport at Cleveland Clinic Abu Dhabi. This isn’t just a helipad with a new name. It is the cornerstone of a fully integrated, city-wide advanced air mobility (AAM) ecosystem, marking a profound convergence of cutting-edge aviation, AI-driven healthcare, and sustainable infrastructure. The Launch of a Lifesaving Corridor The project is a powerful collaboration between aviati...
Post a Comment
Read more

Three Houses, One Vision – How the UAE’s Abrahamic Family House is Redefining Inter-Faith Dialogue

  When you step onto the stone-plinth of the Abrahamic Family House on Saadiyat Island in Abu Dhabi, you are not just visiting a building. You are entering a bold statement: a mosque, a church and a synagogue standing side-by-side, equal in size and purpose, sharing common ground while respecting their separate faiths. A landmark of coexistence In early 2023 the UAE inaugurated this pioneering complex, inviting worshippers and visitors alike. The architecture — designed to give each of the three faith-homes the same external dimensions and to signal equality — allows each to express its own traditions while remaining visibly part of a unified vision. More than 200 nationalities live in the UAE, which means the project reflects a multicultural reality in which multiple faiths and identities coexist daily. Islam’s role in the vision For Muslim-majority audiences in the Gulf, the Abrahamic Family House sends a resonant message: Islam does not fear dialogue — it embraces it. The m...
Post a Comment
Read more

UK Business Migration to the UAE: An Economic Transformation Set to Triple by 2035

  A significant realignment is underway in the global business landscape. The corridor between the United Kingdom and the United Arab Emirates is experiencing a dramatic surge in traffic, not of tourists, but of companies, entrepreneurs, and capital. Projections indicate that the number of UK businesses operating in the UAE is on a trajectory to triple by the year 2035. This is not a fleeting trend but a strategic migration fueled by a powerful combination of economic foresight and pragmatic policy. For UK businesses, the appeal is clear and compelling. The UAE offers a starkly contrasting environment to the complexities of the European market post-Brexit. The cornerstone of this appeal is a favourable tax regime, featuring zero percent income tax and a competitive corporate tax structure. This financial efficiency is coupled with groundbreaking reforms that allow for one hundred percent foreign ownership of mainland companies, giving investors full control over their ventures. The...
Post a Comment
Read more