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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.
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