Kuwait Business Council established in Dubai
Date
5/22/2016 7:34:16 AM
(MENAFN- Emirates News Agency (WAM))
DUBAI, 22nd May, 2016 (WAM) -- The Dubai Chamber of Commerce and Industry has announced the establishment of the Kuwait Business Council in Dubai to boost economic cooperation and enhancement of trade and commerce between the business communities of Dubai and Kuwait.
Taking the total to 47 business councils operating under the umbrella of Dubai Chamber, and 2nd in the GCC after the establishment of the Oman Business Council, the Kuwait Business Council has 21 members from a wide sector of economic activities in the emirate.
Welcoming the formation of the new council, Atiq Juma Nasib, Senior Vice President, Commercial Services Sector, Dubai Chamber, said that the new council will go a long way towards enhancing bilateral relations between the two brotherly 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 AED20.3 billion at the end of 2015.
Saad Al Rubaiaan, Chairman of Kuwait Business Council, said, "It is a matter of pride for us to establish this first of its kind business council outside of Kuwait. This has been made possible with the hard work of Kuwaiti businesses and the support and cooperation of Dubai Chamber and the Consulate-General of the State of Kuwait in the emirate."
He added, "We look forward to the newly-established business council to serve as an ideal platform for Kuwaiti businesses to strengthen their trading ties with Dubai-based businesses and to benefit from the opportunities that the emirate's vibrant investment environment offers to companies looking to expand globally while contributing to the success and growth of Kuwaiti companies operating out of the emirate's markets."
WAM/Esraa/Moran