KUWAIT: The upcoming “Kuwait-UAE Week,” set for February 3-4 in Dubai, aims to explore opportunities to strengthen economic cooperation and bilateral trade between the two nations, said Kuwait’s Minister of Commerce and Industry Khalifa Al-Ajeel. The event, under the patronage of UAE Vice President Sheikh Mohammed bin Rashid Al Maktoum, will focus on creating promising investment opportunities in key sectors.

Al-Ajeel emphasized that the conference reflects the countries’ commitment to deepening cooperation through knowledge exchange and meetings between public and private sector entities. He highlighted Kuwait’s goal of strengthening ties with the UAE in sectors like tourism, healthcare, energy, and financial services, supporting both countries’ sustainable development visions. The Kuwaiti-UAE relationship, Al-Ajeel noted, has become a model of economic integration in the Gulf, with leaderships working to elevate these ties into a broader strategic partnership. The event also aligns with Kuwait Vision 2023 and the UAE’s “We Are the UAE 2031” vision.

Speaking to Kuwait News Agency (KUNA) UAE Minister of State for Foreign Trade, Dr Thani bin Ahmed Al Zeyoudi, highlighted the rapid developments in Kuwait-UAE relations and the importance of the week as a platform for investment exploration and trade growth. He emphasized the role of the private sector and SMEs in driving economic growth and enhancing both countries’ competitiveness in the global market.

Preliminary figures show non-oil trade between the UAE and Kuwait reached $12.4 billion in the first 11 months of 2024, reflecting a 7.2 percent annual growth. Kuwaiti investments in the UAE neared $4 billion as of early 2023. Kuwait’s Consul General in Dubai, Khaled Al-Zaabi, praised the strong relations between the two nations, noting that these ties have led to significant partnerships across multiple sectors, including investment, culture, and tourism. — KUNA

Abdul Aziz Al-Ghurair, Chairman of the Dubai Chamber of Commerce, added that the event would foster greater trade and investment, citing the growing number of Kuwaiti businesses in Dubai. The Dubai Chambers fully supports the event, which contributes to boosting economic ties.

Organized by the UAE Ministry of Economy in partnership with Dubai Chambers, the Kuwaiti-UAE Week will focus on investment opportunities in sectors such as energy, renewable energy, healthcare, real estate, logistics, tourism, and financial services. The event will also include bilateral meetings to strengthen partnerships and explore new investment avenues.