A 21-member Kuwait Business Council has been set up in Dubai aiming to boost economic cooperation and enhancement of trade and commerce between the business communities of Dubai and Kuwait.
Welcoming the formation of the new council Atiq Juma Nasib, Senior Vice President, Commercial Services Sector, Dubai Chamber, said the new council will go a long way in enhancing bilateral relations between the two GCC countries. He added that this also shows Dubai Chamber’s commitment to providing all possible help and facilities to private sector companies in their endeavour to grow and contribute to creating a lucrative business environment for foreign direct investments in the emirate and the entire GCC region.
“Kuwait is a historic GCC trading partner for Dubai and this new council will help business communities of the UAE and Kuwait to establish stronger trade ties and contribute to the economic development of Kuwait and the UAE while taking both the countries’ bilateral relations to a higher level,” said Nasib.
He added that presently there are 426 companies, co-owned and operating in Dubai by Kuwaiti businessmen and the country occupies 19th rank on the list of the emirate’s trading partners. Dubai’s non-oil trade with Kuwait amounted to AED 20.3 billion at the end of 2015.
Read the May 2016 issue of Business Review Middle East magazine