Kuwait's Emir visits the UAE.

Kuwait's Emir Sheikh Meshal al-Ahmad al-Sabah is paying a state visit to the United Arab Emirates (UAE) today, March 5th.

According to the state news agency Wam , welcoming Kuwaiti Emir Sheikh Meshal al-Ahmad al-Sabah in Abu Dhabi were UAE President Sheikh Mohamed bin Zayed Al Nahyan and Vice President and Deputy Prime Minister Sheikh Mansour bin Zayed Al Nahyan.

At the meeting that followed, the President of the host country and the distinguished guest from Kuwait discussed relations between the two countries, particularly in the areas of economics , trade, investment, and development.

Both sides also emphasized the need to enhance security and stability in the region, and to promote the framework of the Gulf Cooperation Council (GCC).

According to The National, economic and trade agreements between Kuwait and the UAE over the past decades have contributed to increased investment and trade between the two countries.

In 2014, the two countries established a high-level joint committee focused on strengthening efforts to enhance cooperation and promote joint action within the GCC.

Among the notable agreements signed between the two countries, the tripartite agreement in the securities sector, signed in February 2022, between the Abu Dhabi Stock Exchange, the Kuwait Stock Exchange, and the Kuwait Clearing Company is particularly noteworthy.

According to the UAE Ministry of Finance , statistics from the UAE Securities and Commodities Authority show that the total number of Kuwaiti shareholders in publicly traded companies increased from 3 individuals in 2000 to 40,979 individuals in 2022.

Trade between the UAE and Kuwait reached 44.8 billion Dh (approximately US$12.2 billion) in 2023 and 44.1 billion Dh (over US$12 billion) in 2022, a 15% increase compared to 2021, according to data from the UAE Federal Agency for Identification, Nationality, Customs and Port Security.

Kuwait's Emir Sheikh Meshal al-Ahmad al-Sabah ascended to power in December 2023, following the death of his predecessor and half-brother, Sheikh Nawaf (86 years old). Over the past few months, the new Emir has visited GCC member states including Saudi Arabia, Bahrain, Qatar, and Oman.

Source: https://baoquocte.vn/quoc-vuong-kuwait-tham-uae-263098.html