Memorandum of Understanding signed between Kuwait and Qatar for financial cooperation

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

The agreement was signed on behalf of Kuwait by Minister of Finance Dr. Yaqoub Al-Rafai, and on behalf of Qatar by Qatari Minister of Finance Ali bin Ahmed Al-Kuwari, in the presence of Kuwait’s Ambassador to Qatar, Ahmed Abdulrahman Al-Sharim.

The MoU comes within the framework of bilateral 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 stated that the signing reflects the Ministry of Finance’s commitment to building on 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 amid 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 accordance with the shared interests and benefits of the two brotherly nations.