Page 445 - MOE ENGLISH PR REPORT - FEBRUARY 2025 Part 2

Kuwaiti companies together.

In his opening speech, His Excellency Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for
Foreign Trade, highlighted the event’s role in fostering long-term partnerships between the UAE and
Kuwait. He reaffirmed the deep ties between the two nations, recalling the words of His Highness
Sheikh Mohammed bin Rashid Al Maktoum: “The love for Kuwait and its people is engraved in our
land, hearts, and history.”
His Excellency Dr. Al Zeyoudi highlighted the significant milestones achieved in trade and
investment between the UAE and Kuwait,
emphasising the event’s role as a key platform for further collaboration. “Hosting UAE-Kuwait Week
in Dubai reflects the ongoing positive developments in our relations, which align with the ‘We the
UAE 2031’ and ‘Kuwait 2035’ visions for sustainable development and economic prosperity,” he
said.

He also underscored the strength of non-oil trade between the UAE and Kuwait, which reached
AED50 billion ($13.6 billion) in 2024, marking a 9% increase from the same period in 2023. Mutual
investments between the two nations totalled approximately AED20 billion ($5.44 billion) by the
end of 2022.

Strengthening Economic Ties
Ziad Al Najem, Undersecretary of the Ministry of Commerce in Kuwait, reaffirmed the strong trade
and investment ties between the UAE and Kuwait, emphasising that the UAE remains one of
Kuwait’s largest global trading partners. He attributed the steady growth in trade exchange to well-
planned economic policies and bilateral cooperation. He said that Kuwait-UAE trade relations
exemplify Arab integration, built on a 150-year history of shared interests, and underscored the
importance of further strengthening these ties to support development and economic
diversification in both nations.

Al Najem highlighted the expansion of Kuwaiti investments in the UAE, particularly in real estate,
services, financial investments, and tourism, which led to establishing the first Kuwaiti Business
Council in the region under Dubai Chamber nine years ago. He also pointed to the role of Emirati
investments in Kuwait’s economic growth, particularly in the maritime and air transport sectors,
with 122 weekly flights ensuring continued economic integration.

He also added that several bilateral agreements were recently signed within the Kuwait-UAE Joint
Higher Committee, covering key sectors such as communications, cybersecurity, and information
technology. A double taxation avoidance agreement was also established to facilitate the
movement of goods, services, and capital.

Enhancing Cooperation Prospects
His Excellency Mohammed Ali Rashed Lootah, Director General of Dubai Chambers, said that UAE-
Kuwait Week serves as a key platform for identifying bilateral opportunities. “UAE-Kuwait Week
enhances economic prospects and fosters investment and trade cooperation between the UAE and
Kuwait business communities, supporting sustainable development and creating promising

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