UAE-Kuwait Week to Launch in Dubai Under the Patronage of Sheikh Mohammed bin Rashid

Business

UAE-Kuwait Week to Launch in Dubai Under the Patronage of Sheikh Mohammed bin Rashid

Event Aims to Strengthen Strategic Partnerships and Drive Economic Growth

The inaugural UAE-Kuwait Week will be held in Dubai from February 3-4, 2025, under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. This high-profile event will focus on enhancing economic and trade relations between the two nations, exploring new opportunities for collaboration across sectors such as energy, healthcare, tourism, and logistics.

Jointly organized by the UAE Ministry of Economy, Dubai Chambers, the Kuwaiti Consulate General, and Dubai Culture & Arts Authority, the event will act as a key platform for businesses, policymakers, and industry leaders to foster partnerships, exchange insights, and stimulate growth in intra-regional trade.

Advancing Bilateral Cooperation

His Excellency Dr. Thani Al Zeyoudi, UAE Minister of State for Foreign Trade, emphasized the event's importance in strengthening the longstanding ties between the UAE and Kuwait. “This platform will help unlock the potential of key economic sectors and foster sustainable growth. By promoting partnerships and engaging the private sector, we aim to create an ecosystem that supports innovation and economic resilience,” he said.

Dr. Al Zeyoudi highlighted the shared goals of the UAE's "We the UAE 2031" and Kuwait's "Vision 2035" development frameworks, which aim to enhance economic prosperity. He noted that UAE-Kuwait non-oil trade reached AED 45.4 billion ($12.4 billion) during the first 11 months of 2024, reflecting a 7.2% annual growth.

Fostering Economic Collaboration

His Excellency Abdulaziz Al Ghurair, Chairman of Dubai Chambers, reiterated the event's role in expanding trade and investment flows. He highlighted Dubai’s pro-business environment and noted the rise in Kuwaiti businesses operating in Dubai, now totaling 775 registered members under Dubai Chambers.

Similarly, His Excellency Khalifa Al-Ajeel, Kuwait’s Minister of Commerce and Industry, emphasized the event’s focus on enhancing bilateral relations and unlocking growth opportunities in key sectors, supporting the region’s sustainable development goals.

Event Highlights

The UAE-Kuwait Week will feature a diverse agenda, including:

Panel Discussions: Covering investment opportunities in renewable energy, logistics, healthcare, and financial services.
B2B Meetings: Facilitating collaboration between government representatives, businesses, and SMEs.
Cultural Exhibition: Showcasing traditional performances, artisan displays, and cultural heritage.

Trade and Investment Growth

Non-oil trade between the UAE and Kuwait reached $12.4 billion in 2023, reflecting a 19% increase compared to 2021. The UAE remains Kuwait's top global destination for non-oil exports, while Kuwait ranks as the UAE’s 12th largest trading partner globally. Investments from Kuwait to the UAE amounted to $3.9 billion, while UAE investments in Kuwait totaled $1.087 billion.

Tourism flows also showed strong growth, with over 381,000 Kuwaiti tourists visiting the UAE in 2023, up from 250,000 in 2022, supported by 122 weekly flights between the two nations.

Driving Sustainable Growth

The UAE-Kuwait Week aims to unlock new avenues for cooperation, supporting SMEs, innovation, and trade in key sectors, while further cementing the strong fraternal ties between the two countries.