Kuwait and Qatar Sign MoU on Financial Cooperation - Sarmad

(KUNA) – Kuwait signed a memorandum of understanding 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, held in the Qatari capital.

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

The ministry noted that the memorandum 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 accordance with international best practices, as well as holding conferences, seminars, and workshops to exchange views in financial fields and to build and develop national capacities and human capital, in line with 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 ties 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.