Kuwait and Qatar Sign MoU to Enhance Financial Cooperation

- To develop economic policies and planning, enhance efficiency, and exchange expertise between the two countries

- Al-Rafai: We continue working to achieve the goals of economic integration among GCC member states

The State of Kuwait signed today, Monday, a memorandum of understanding with the Government of the State of Qatar for cooperation in the financial sector, as part of efforts to strengthen bilateral cooperation between the two countries and develop their financial and economic policies.

The Ministry of Finance stated in a statement on its “X” platform that Minister of Finance Dr. Yaqoub Al-Rafai signed the memorandum on behalf of the Government of the State of Kuwait, while Qatari Finance Minister Ali bin Ahmed Al-Kuwari signed it on behalf of the Qatari side, in the presence of Kuwait’s Ambassador to Qatar, Ahmed Abdulrahman Al-Sharim.

The ministry clarified that the memorandum aims to develop financial and economic policies, improve the efficiency of public financial management and financial planning in line with international best practices, as well as to organize conferences, seminars, and workshops to exchange views in financial fields, and to build and develop national capacities and human capital in a manner that fulfills the aspirations of both countries.

Al-Rafai emphasized that the signing of the memorandum comes within the framework of the Ministry of Finance’s commitment to completing its previous steps to enhance the economic and financial cooperation framework among the Gulf Cooperation Council (GCC) countries, and to continue joint efforts and initiatives to achieve the goals of economic integration, especially in light of the rapid changes witnessed by the global economy.

He pointed out the keenness to strengthen financial relations with Qatar through the exchange of opinions and expertise in various fields, serving the common interests and benefits of both countries.

The signing of the memorandum 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, held in the Qatari capital, Doha.