Latest news with #UAE-KuwaitWeek
Gulf Today
28-04-2025
- Business
- Gulf Today
SCCI strengthens economic and investment relations with Kuwait
The Sharjah Chamber of Commerce and Industry (SCCI) engaged in discussions with a high-level diplomatic delegation from the State of Kuwait, exploring avenues for enhancing economic and trade relations. The discussions focused on facilitating the exchange of trade missions and hosting joint business events, thereby fostering mutual investment cooperation across diverse sectors and strengthening partnerships between the two business communities. Abdallah Sultan Al Owais, Chairman of SCCI, met with Khalid Abdulrahim Al-Zaabi, the Consul General of the State of Kuwait in Dubai and the Northern Emirates. The meeting was attended by Mohammed Ahmed Amin Al-Awadi, Director-General of SCCI, and Dr Fatema Khalifa Al Muqarrab, Director of International Relations at SCCI, as well as several key officials from both the meeting, both sides explored opportunities to develop and enhance economic cooperation and trade ties between Sharjah and Kuwait at the private sector level, and to encourage companies across various sectors to increase the exchange of information on investment prospects. Al Owais praised the strong fraternal ties between the two countries, which continue to witness significant growth across various sectors, especially in the economic and trade fields. He noted that that non-oil trade between the UAE and Kuwait reached approximately Dhs45.4 billion ($12.4 billion) during the first 11 months of 2024, marking a year-on-year growth of 7.2 per cent compared to the same period in 2023. He underlined the significance of sustaining the momentum of economic cooperation and the need to strengthen it by increasing trade exchange and fostering bilateral economic relations across industrial, commercial, and investment sectors. The Sharjah Chamber briefed the visiting delegation on the investment opportunities available in Sharjah, highlighting the attractive incentives offered by the emirate and its institutions to entrepreneurs from across the globe. The Chamber pinpointed the multiple advantages that position Sharjah as a prime destination for Kuwaiti companies to establish their business and industrial operations and launch new projects. He pointed out the emirate's modern infrastructure, advanced logistics services, flexible regulatory framework, and strategic geographic location, all of which contribute to creating an ideal environment for business growth. In February, Zyad Abdullah Alnajem, Under-Secretary of the Ministry of Commerce and Industry of the State of Kuwait, stressed that the future of economic relations between Kuwait and the UAE holds promising prospects that ensure prosperity and growth in the Gulf region, underpinned by strong trade and investment ties. He added that the UAE is one of Kuwait's largest trading partners globally and the largest in the Arab world, with bilateral trade witnessing significant growth in recent years. Speaking on the sidelines of the UAE-Kuwait Week, Alnajem highlighted that the well-planned economic policies of both nations and their bilateral cooperation have contributed to enhancing trade exchange, resulting in substantial levels of investment. Kuwaiti investments in the UAE have notably flourished, particularly in real estate, services, financial investments and tourism. He also noted that Emirati investments in Kuwait support economic growth, particularly in the maritime and aviation sectors, with 122 weekly flights between the two countries, ensuring continued economic integration. Alnajem pointed out that several bilateral agreements have been signed recently within the framework of the UAE-Kuwait Joint Higher Committee, focusing on key areas such as telecommunications, cybersecurity and information technology. Additionally, the agreement on avoiding double taxation aims to facilitate the movement of goods, services and capital between the two countries while enhancing the competitiveness of local companies in both markets. Alnajem affirmed that Kuwaiti-UAE trade relations serve as a model of Arab integration, where both nations collaborate to achieve mutual interests. He underscored that their historical ties, reinforced through mutual understanding, constructive cooperation and innovation in emerging economic sectors, are essential for supporting development and economic diversification plans in both countries. WAM
Hi Dubai
31-01-2025
- Business
- Hi Dubai
Dubai to Host UAE-Kuwait Week to Strengthen Bilateral Ties
Dubai is set to host the UAE-Kuwait Week on 3rd and 4th February at Jumeirah Emirates Towers, reinforcing the strategic relations between the two nations. The event aims to foster collaboration across multiple sectors, promoting economic growth and cultural exchange. Organized jointly by the UAE and Kuwait, the event highlights the deep-rooted historical ties between the two countries. It will serve as a key platform for exploring investment opportunities, expanding trade, and exchanging economic insights, paving the way for strengthened bilateral cooperation. A major highlight of the event will be the exhibition, featuring over 25 entities, including leading companies and small and medium-sized enterprises (SMEs). This will provide businesses with a valuable networking opportunity to explore potential partnerships. Beyond business, UAE-Kuwait Week will celebrate the shared cultural heritage of both nations. Attendees can experience traditional arts, handicrafts, and heritage showcases that reflect the rich legacy of the UAE and Kuwait. The event is expected to enhance economic ties while fostering mutual understanding, reinforcing the commitment of both nations toward comprehensive development. News Source: Emirates News Agency
Hi Dubai
27-01-2025
- Business
- Hi Dubai
UAE-Kuwait Week to Strengthen Bilateral Trade and Investment
Under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, the inaugural UAE-Kuwait Week will be held in Dubai on February 3-4, 2025. The two-day event aims to enhance economic and trade relations between the UAE and Kuwait, opening new opportunities for collaboration in key sectors. Jointly organized by the UAE Ministry of Economy, Dubai Chambers, the Kuwaiti Consulate General, and Dubai Culture & Arts Authority, the event will serve as a platform for businesses, policymakers, and industry leaders to explore investments and strengthen trade ties. Dr. Thani Al Zeyoudi, Minister of State for Foreign Trade, emphasized the importance of this event in advancing strategic partnerships, particularly in energy, logistics, food security, and advanced industries. Abdulaziz Al Ghurair, Chairman of Dubai Chambers, highlighted that the UAE-Kuwait Week would drive trade and investment in sectors such as tourism, healthcare, and real estate. Khalifa Al-Ajeel, Kuwait's Minister of Commerce and Industry, underscored the alignment of both nations' visions for sustainable growth, with the event fostering collaboration between the private sectors. Non-oil trade between the two nations reached US$12.4 billion in 2023, reflecting a 7.2% increase compared to 2022. The UAE is Kuwait's top export destination, and the two countries are committed to deepening economic cooperation. With exhibitions, B2B meetings, and discussions on renewable energy and healthcare, the UAE-Kuwait Week will bolster the longstanding fraternal relations between the two nations and unlock new avenues for shared prosperity. News Source: Emirates News Agency
