President Sheikh Mohamed discusses regional security with Kuwait’s Emir

Trade between the UAE and Kuwait in the first half of 2023 reached Dh22.3 billion

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Kuwait’s Emir Sheikh Meshal visited Abu Dhabi on Tuesday on an official state visit.

Sheikh Meshal was received by President Sheikh Mohamed and Sheikh Mansour bin Zayed, Vice President, Deputy Prime Minister and Chairman of the Presidential Court, on his arrival, state news agency Wam reported.

The motorcade at Qasr Al Watan was escorted by horsemen and camel riders, as well as Emirati folk art groups, before Sheikh Mohamed led Sheikh Meshal to the dais of honour.

The ceremony featured the national anthems of the UAE and Kuwait, an honour guard and a 21-gun salute, before Al Fursan aerobatics team depicted the Kuwaiti flag in the sky. Landmarks and streets in Abu Dhabi were also decorated with Kuwaiti flags.

Sheikh Mohamed and Sheikh Meshal discussed relations between their countries, particularly in the economic, trade, investment and developmental sectors.

They also emphasised the need to bolster regional security and stability, while promoting the framework of the Gulf Co-operation Council.

Sheikh Meshal wrote in the Qasr Al Watan VIP guestbook, expressing his appreciation of the UAE’s leadership, government and people.

Sheikh Mohamed awarded the Order of Zayed to Sheikh Meshal, while the President was awarded the Order of Mubarak the Great in return, as a mark of respect between the two nations.

Sheikh Meshal left Abu Dhabi on Tuesday afternoon and was bid farewell by Sheikh Mansour.

“I was pleased to welcome my brother Sheikh Mishal Al Ahmad Al Sabah, Emir of Kuwait, to Abu Dhabi to discuss the strong and deep-rooted bonds that unite our nations in pursuit of a better future for our region,” Sheikh Mohamed wrote on X.

“The UAE and Kuwait are committed to advancing bilateral co-operation as we work to foster progress, prosperity, and stability for all.”

The Emir, who was sworn in as ruler in December following the death of his half-brother Sheikh Nawaf, had already visited the other countries – Saudi Arabia, Bahrain, Qatar and Oman – that make up the GCC over the past couple of months.

Economic and trade agreements and deals between the two countries over the past several decades have contributed to increasing the volume of investments and trade exchanges between Kuwait and the UAE.

In 2014, the UAE and Kuwait established a high-joint committee with an emphasis on intensifying efforts to enhance co-operation between both countries and advance the joint GCC action.

Among the most prominent agreements between the two countries was a three-way deal in the field of securities signed in February 2022 between the Abu Dhabi Securities Exchange, the Kuwait Stock Exchange and the Kuwait Clearing Company.

Statistics from the UAE’s Securities and Commodities Authority indicate that the number of Kuwaiti shareholders in publicly traded companies increased from three individuals in 2000 to 40,979 in 2022, according to the Ministry of Finance.

Trade between the UAE and Kuwait in the first half of 2023 reached Dh22.3 billion ($6.07 billion), while statistics compiled by the Federal Authority for Identity, Citizenship, Customs and Port Security show the total trade exchange between the UAE and Kuwait amounted to Dh44.8 billion during 2023, and Dh44.1 billion during 2022, a growth of 15 per cent compared with 2021.

Kuwaiti Emir Sheikh Meshal on regional tour - in pictures

Updated: March 05, 2024, 4:26 PM