UAE-Kuwait Week kicks off to strengthen longstanding economic, cultural ties

To strengthen economic and cultural ties between the two nations, the UAE-Kuwait Week event officially commenced today. This two-day event brings together ministers, senior officials, and key business leaders from both countries.

In his opening remarks, His Excellency Dr. Thani bin Ahmed Al Zeyoudi, the UAE Minister of State, emphasized the role of this event in fostering the long-term partnership between the UAE and Kuwait. His Excellency highlighted the significant milestones achieved by both nations in trade and investment, underscoring this event as a crucial platform for further collaboration. He stated, "The hosting of the UAE-Kuwait Week in Dubai reflects the continued positive development of relations between the two countries, which is in line with the sustainable development and economic prosperity visions of ‘We the UAE 2031’ and ‘Kuwait 2035’.”

During his address at the UAE-Kuwait Week, Dr. Al Zeyoudi highlighted the strong momentum in non-oil trade between the UAE and Kuwait, reaching 50 billion dirhams (USD 13.6 billion) in 2024, a 9% increase compared to the same period in 2023. He also noted that the total mutual investments between the two countries amounted to approximately 20 billion dirhams (USD 5.44 billion) by the end of 2022.

Kuwait’s Undersecretary of the Ministry of Commerce, Ziad Najem, also reaffirmed the strong trade and investment ties between the UAE and Kuwait, emphasizing that the UAE remains one of Kuwait’s largest global trading partners. He attributed the steady growth in trade volumes to well-conceived economic policies and bilateral cooperation. He added that Kuwait's trade relationship with the UAE embodies Arab integration, built on a 150-year history of shared interests, and stressed the importance of further strengthening these ties to support the development and economic diversification of both nations.

Najem highlighted the expansion of Kuwaiti investments in the UAE, particularly in real estate, services, financial investments, and tourism, which contributed to the establishment of the region's first Kuwaiti Business Council under the Dubai Chamber nine years ago. He also pointed to the role of UAE investments in Kuwait’s economic growth, especially in maritime and air transport, with 122 weekly flights ensuring continued economic integration. During the UAE-Kuwait Week, Najem added that several bilateral agreements were recently signed within the Kuwaiti-Emirati Joint Higher Committee, covering key sectors such as communications, cybersecurity, and information technology. A double taxation avoidance agreement was also established to facilitate the flow of goods, services, and capital.

Mohammad Ali Rashed Lootah, Director General of Dubai Chambers, stated that the UAE-Kuwait Week is a key platform for identifying bilateral opportunities. He added, “The UAE-Kuwait Week enhances economic prospects, fosters investment and trade cooperation between the UAE and Kuwaiti business communities, supports sustainable development, and creates promising opportunities and fruitful partnerships.” Lootah reaffirmed Dubai Chambers' commitment to supporting the growth of Kuwaiti investors in Dubai, noting that 145 Kuwaiti companies joined the Dubai Chamber in 2024, bringing the total number of active Kuwaiti companies registered with the Chamber to 776, a 5.6% increase compared to 2023.

Lootah also invited Kuwaiti digital startups to showcase their innovations and connect with global investors at the 2025 Expand North Star, the world's largest gathering of startups and investors. The event will be hosted by the Dubai Chamber of Digital Economy in October.

The UAE-Kuwait Week will focus on building long-term partnerships in priority sectors, with several bilateral meetings taking place between business leaders and private sector officials. An exhibition during the event will feature over 25 entities representing leading companies and SMEs, along with cultural and heritage displays showcasing traditional arts and crafts. Some of the major Kuwaiti banks and companies include the National Bank of Kuwait, Kuwait Flour Mills and Bakeries Company, Janus Henderson, Al Hashemiya Dates Company, Kuwait Airways, and Jazeera Airways.

The UAE-Kuwait Week will also showcase inspiring success stories of SMEs from both countries, highlighting the factors contributing to their success. Additionally, the meetings will facilitate the exchange of ideas and collaboration on government practices and sustainable development, with a focus on investments in key sectors such as energy, renewable energy, financial services, real estate, logistics, transportation, tourism, hospitality, and food trade.