Page 450 - MOE ENGLISH PR REPORT - FEBRUARY 2025 Part 2

2/18/25, 2:51 PM Latifa bint Mohammed attends opening of UAE-Kuwait Week in Dubai - Emirates24|7
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

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