DUBAI, Jan 25: The Minister of Commerce and Industry, Khalifa Al-Ajeel, announced that the upcoming "Kuwaiti-Emirati Week," set to take place in Dubai on February 3 and 4, aims to strengthen the bilateral relations between Kuwait and the UAE. The event will serve as a platform to explore further opportunities for collaboration in various sectors and enhance joint economic cooperation.

Speaking ahead of the event, Al-Ajeel emphasized that the Kuwaiti-Emirati Week is designed to advance investment opportunities across vital sectors and stimulate growth in inter-trade between the two nations. This event is part of ongoing efforts to build a deeper strategic partnership and support sustainable development, with the patronage of Vice President and Prime Minister of the UAE, Sheikh Mohammed bin Rashid Al Maktoum.

Al-Ajeel explained that the event reflects both countries’ commitment to strengthening ties by exchanging expertise, facilitating bilateral meetings, and exploring new opportunities in tourism, healthcare, energy, financial services, and more. He also stressed that Kuwait aims to further enhance its cooperation with the UAE, particularly in strategic sectors that contribute to the welfare of both nations.

"The Kuwaiti-Emirati Week is a clear indication of the strong and growing relationship between our countries," Al-Ajeel said. "These events demonstrate the shared vision of our leaderships and their commitment to mutual prosperity."

The Minister further emphasized that the Kuwaiti-Emirati relationship has long served as a model of bilateral cooperation and economic integration within the Gulf region. He noted the positive developments in the relationship between the two nations, particularly with regard to advancing strategic partnerships, aligned with Kuwait’s Vision 2023 and the UAE’s “We the Emirates 2031” initiative.

UAE Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi, echoed Al-Ajeel’s sentiments, highlighting that the relations between Kuwait and the UAE are continually evolving, with both countries working towards broader levels of strategic partnership. Al Zeyoudi pointed out that the Kuwaiti-Emirati Week will serve as a platform for discussing investment opportunities in key sectors, including renewable energy, healthcare, logistics, tourism, and financial services.

Al Zeyoudi stressed the importance of cooperation between the two nations in supporting their private sectors, particularly small and medium enterprises, which are pivotal to driving economic growth. The event is also seen as a significant opportunity for exchanging knowledge and expertise, further enhancing the competitiveness of both countries on the global stage.

The UAE and Kuwait’s trade relations have been flourishing, with non-oil trade between the two countries amounting to approximately $12.4 billion during the first 11 months of 2024, reflecting a 7.2% annual growth compared to the previous year. Investments from Kuwait to the UAE reached nearly $4 billion at the start of 2023, underscoring the strength of their economic ties.

Khaled Al-Zaabi, the Consul General of Kuwait in Dubai and the Northern Emirates, praised the deep fraternal relations between the two countries, noting the expanding scope of collaboration in investment, tourism, culture, and trade. He highlighted the broad scope of these strategic partnerships, which continue to grow and evolve.

Abdul Aziz Al-Ghurair, Chairman of the Board of Directors of Dubai Chambers, also expressed his support for the Kuwaiti-Emirati Week, emphasizing the importance of the event in expanding trade and investment opportunities. He noted that the Dubai Chamber of Commerce is committed to enhancing its relationship with Kuwait, with 775 Kuwaiti companies currently registered under the Chamber’s membership.

The Kuwaiti-Emirati Week is organized by the Ministry of Economy in the UAE, in partnership with Dubai Chambers and the Consulate General of Kuwait in Dubai, and in cooperation with the Dubai Culture and Arts Authority. The event will cover key sectors such as energy, renewable energy, healthcare, logistics, transportation, real estate development, tourism, hospitality, chemicals, jewelry, precious metals, and financial services.

In addition to exploring investment opportunities, the event will feature bilateral meetings between government and private entities from both countries, fostering partnerships, signing agreements, and enhancing integration. The two-day event will open new doors for cooperation, enabling the exchange of knowledge and expertise, and exploring new avenues for mutual growth.