Kuwait and Qatar Sign MoU to Develop Fiscal and Economic Policies and Improve Administrative Efficiency

Kuwait signed a memorandum of understanding (MoU) on financial cooperation with Qatar today, Monday, on the sidelines of Kuwait’s participation in the 11th Annual Meeting of the Governors of the Asian Infrastructure Investment Bank (AIIB), held in the Qatari capital.

The Kuwaiti Ministry of Finance said in a statement that Finance Minister Dr. Yaqoub Al-Rafai signed the MoU on behalf of Kuwait, while Qatari Finance Minister Ali Al-Kuwari signed on behalf of Qatar, with Kuwait’s Ambassador to Qatar, Ahmed Al-Sharim, in attendance.

The ministry noted that the MoU falls within the framework of cooperation between the two brotherly countries in 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 Al-Rafai pointed out in the statement that this signing comes amid the Kuwaiti Ministry of Finance’s commitment to completing its previous steps to strengthen the economic and financial cooperation framework among the Gulf Cooperation Council (GCC) countries, and to continue joint efforts and initiatives toward achieving economic integration objectives, particularly in light of the rapid changes affecting the global economy.

He added that the signing also reflects the keenness to enhance financial relations with Qatar, particularly regarding the exchange of opinions and expertise in various fields, in accordance with the shared interests and benefits of the two brotherly countries.