Kuwait begins negotiations on a double taxation agreement with Cuba

A Kuwaiti delegation representing the Ministries of Finance and Foreign Affairs began the first round of negotiations on the Double Taxation Avoidance Agreement between the State of Kuwait and Cuba, attended by Kuwait’s Ambassador to the Republic of Cuba, Adel Al-Adgham. The Kuwaiti Embassy in Havana stated that the first round of talks, which will continue until next Friday, aims to discuss the provisions of the double taxation agreement between Kuwait and Cuba with officials from the Cuban Ministry of Finance and to assess their compatibility with the laws of both countries.

Ambassador Al-Adgham told KUNA that Kuwait is among the few countries that have received approval from the Cuban government to discuss and approve the memorandum on the double taxation avoidance agreement between the two countries, owing to Kuwait’s close relations with Cuba and its earnest efforts to activate commercial, economic, and bilateral relations across various fields.

He noted that the Kuwaiti delegation, led by Badr Al-Abd al-Hadi, Head of the Tax Agreements Department at the Ministry of Finance, includes Ibrahim Al-Amir from the Agreements Department and Third Secretary at the Ministry of Foreign Affairs, Ilaf Al-Rish.

According to the embassy’s statement, the meetings were attended on the Cuban side by Lourdes Rodriguez Ruiz, Deputy Minister of Finance, along with several members of the Ministry of Finance and representatives from the Cuban Ministry of Foreign Affairs.

The statement clarified that the Kuwaiti delegation met with Deborah Rivas, Deputy Minister of Foreign Trade and Foreign Investment in Cuba, who discussed investment opportunities in her country and expressed gratitude to the Government of the State of Kuwait for its continuous support and interest in fostering economic partnership with Cuba.

Rivas praised the role of the Kuwait Fund for Arab Economic Development in supporting Cuba’s infrastructure, noting that it was the first fund in the world to begin operations in the Republic of Cuba.

The statement further mentioned that the Kuwaiti delegation also met with Joanna Liliana, Governor of the Central Bank of Cuba, who briefed the delegation on the latest developments in the country’s economic and financial situation, as well as new laws regarding investment and the establishment of foreign banks.