Kuwait Signs MoU with Qatar Government on Financial Cooperation

The State of Kuwait signed a memorandum of understanding (MoU) on financial cooperation with the Government of the State of Qatar. The agreement was signed by Dr. Yaqoub Al-Rafai, Kuwait’s Minister of Finance, representing the Kuwaiti government, and Ali bin Ahmed Al-Kuwari, Qatar’s Minister of Finance, in the presence of Kuwait’s Ambassador to Qatar, Ahmed Al-Sharim. The MoU falls within the framework of bilateral cooperation between the two brotherly countries aimed at developing fiscal and economic policies, enhancing the efficiency of public financial management and financial planning in line with international best practices, as well as organizing conferences, seminars, and workshops to exchange views in financial fields, and building and developing national capacities and human capital to realize the aspirations of both countries.

Minister of Finance Dr. Yaqoub Al-Rafai noted that this signing comes amid the Kuwaiti Ministry of Finance’s commitment to building on previous steps to strengthen the economic and financial cooperation framework among the Gulf Cooperation Council (GCC) states, and to continue joint efforts and initiatives toward achieving economic integration objectives, particularly in light of the rapid changes affecting the global economy. He also emphasized the importance of strengthening financial ties with Qatar, particularly regarding the exchange of views and expertise in various fields in the mutual interest of the two brotherly countries.

Notably, this signing took place on the sidelines of Kuwait’s participation in the 11th Annual Meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB), held in Doha, Qatar.