The first edition of the ‘UAE-Kuwait Week’ will be held in Dubai on February 3-4, with the aim of strengthening strategic economic and trade relations between the two countries and identifying new opportunities for cooperation.
Publish dateSaturday 25 January 2025 - 10:47
According to Amac News: The event is jointly organized by the UAE Ministry of Economy and Dubai Chambers, in collaboration with the Consulate General of Kuwait and the Dubai Department of Culture and Arts.
The event will serve as a platform to explore investments, strengthen trade relations and exchange views between businesses, policymakers and industry leaders.
Thani Al Zayudi, UAE Minister of State for Foreign Trade, stressed the strengthening of economic relations with Kuwait, explaining that the value of non-oil trade between the UAE and Kuwait reached AED 45.4 billion (US$ 12.4 billion) in the first 11 months of 2024, representing an annual growth of 7.2% compared to the same period in 2023.
On the other hand, Khalifa Al Ajil, Kuwaiti Minister of Commerce and Industry, said that the event will focus on strengthening bilateral relations and stimulating growth in vital sectors such as tourism, healthcare, energy and financial services.
The event’s conferences and panel discussions will focus on unlocking investment potential in key sectors, including energy, renewable energy, healthcare, logistics and tourism.
The event is expected to open new avenues for bilateral cooperation in sectors such as renewable energy, logistics, healthcare and financial services.
The UAE remains Kuwait’s top destination for global non-oil exports, accounting for 22% of Kuwait’s global exports and is Kuwait’s third most important import market after China and the United States.
On the other hand, Kuwait was identified as the UAE’s 12th most important trading partner in 2023 and the third in the Gulf after Saudi Arabia and Oman, ranking ninth in the UAE’s non-oil exports and sixth in re-exports.
UAE investments in Kuwait currently stand at US$1.087 billion, while Kuwaiti investments in the UAE reached US$3.9 billion.
The UAE and Kuwait have witnessed significant growth in tourism flows. In 2023, more than 381,000 Kuwaiti tourists visited the UAE, compared to 250,000 in 2022.
The event will serve as a platform to explore investments, strengthen trade relations and exchange views between businesses, policymakers and industry leaders.
Thani Al Zayudi, UAE Minister of State for Foreign Trade, stressed the strengthening of economic relations with Kuwait, explaining that the value of non-oil trade between the UAE and Kuwait reached AED 45.4 billion (US$ 12.4 billion) in the first 11 months of 2024, representing an annual growth of 7.2% compared to the same period in 2023.
On the other hand, Khalifa Al Ajil, Kuwaiti Minister of Commerce and Industry, said that the event will focus on strengthening bilateral relations and stimulating growth in vital sectors such as tourism, healthcare, energy and financial services.
The event’s conferences and panel discussions will focus on unlocking investment potential in key sectors, including energy, renewable energy, healthcare, logistics and tourism.
The event is expected to open new avenues for bilateral cooperation in sectors such as renewable energy, logistics, healthcare and financial services.
The UAE remains Kuwait’s top destination for global non-oil exports, accounting for 22% of Kuwait’s global exports and is Kuwait’s third most important import market after China and the United States.
On the other hand, Kuwait was identified as the UAE’s 12th most important trading partner in 2023 and the third in the Gulf after Saudi Arabia and Oman, ranking ninth in the UAE’s non-oil exports and sixth in re-exports.
UAE investments in Kuwait currently stand at US$1.087 billion, while Kuwaiti investments in the UAE reached US$3.9 billion.
The UAE and Kuwait have witnessed significant growth in tourism flows. In 2023, more than 381,000 Kuwaiti tourists visited the UAE, compared to 250,000 in 2022.
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Source : news agency wam
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