Kuwait Banking Association is an official sponsor of the “UAW – Kuwait Week” in Dubai to enhance economic and commercial cooperation
The Kuwait Banking Association participated as an official sponsor in the activities of the “UAE – Kuwait Week” held in the Emirate of Dubai, United Arab Emirates on February 3 and 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, may God protect him.
This event aimed to strengthen economic and cultural ties between the State of Kuwait and the United Arab Emirates, explore new horizons of bilateral cooperation and promising investment opportunities in a range of vital sectors, and stimulate inter-trade movement.
During this event, Sheikh Ahmed Duaij Al-Sabah, Chairman of the Board of Directors of the Kuwait Banking Association, stressed the depth of Kuwait – UAE relations, as Kuwait was one of the first countries to establish diplomatic relations with the UAE, which contributed to strengthening cooperation between the two countries in the fields of politics, economy, culture and education, and the Gulf Cooperation Council played a major role in pushing these relations to new levels.
In light of the recent 45th GCC Summit held in Kuwait, the growing role of the GCC countries in addressing regional and global economic challenges and enhancing the region’s position as an international business and economic hub is highlighted, in addition to continuing efforts aimed at sustainable economic diversification, digital transformation, stabilizing energy markets, and successfully dealing with climate change.
Regarding trade exchange between the State of Kuwait and the United Arab Emirates, it is worth noting that it has witnessed remarkable growth in recent years, as the volume of trade exchange between the two countries reached about 317 billion dirhams during the period from 2013 to 2022. Non-oil trade exchange between the two countries in 2023 recorded about 45 billion dirhams.
On the sidelines of this important event, the status of the Kuwaiti banking sector and its efforts to enhance cooperation with its counterpart in the sisterly United Arab Emirates were emphasized, as it plays a vital role in enhancing trade and investment exchange between the two sisterly countries, and provides a wide range of banking services to companies, especially in light of the financial strength enjoyed by banks in the Gulf Cooperation Council countries.
The Kuwait Banking Association praised the good organization of the UAE – Kuwait Week, which is an important step towards strengthening the bonds of cooperation between the two brotherly countries in all fields, as a cooperation agreement was signed between the Kuwait Business Council and the Kuwait Banking Association, aiming to coordinate cooperation and promote investment events organized by each party.
