Saudi, Kuwait set up joint business council to boost economic bonds

• Hassan Al-Huwaizi, the President of the Federation of Saudi Chambers, emphasized that the meeting with the Kuwaiti ambassador marks a new phase of economic cooperation, fostering stronger business partnerships.

The Federation of Saudi Chambers has initiated procedures to establish the first joint Saudi-Kuwaiti business council, marking a significant step forward in strengthening economic cooperation between the two nations, Al Rai newspaper reported.

The Saudi Press Agency (SPA) reported that this development was discussed during a meeting between Hassan Al-Huwaizi, the President of the Federation of Saudi Chambers, and Sheikh Sabah Al-Nasser, Kuwait’s Ambassador to the Kingdom.

The agency added that the two sides reviewed the investment environment and opportunities between Saudi Arabia and Kuwait, organized an investment forum in Riyadh, and explored ways to enable Kuwaiti investors to participate in the Hafr Al Batin Investment Forum 2025.

Al-Huwaizi stated that the outcomes of the meeting with the Kuwaiti ambassador signify a new phase of economic cooperation between the two countries, highlighting the opportunities for promising partnerships in the business sector and efforts to elevate their collaboration to higher levels.

For his part, Ambassador Sabah Al-Nasser expressed optimism about achieving comprehensive economic integration between the two countries. He also praised the Kingdom’s dynamic investment environment and the significant development it has undergone, making it a prime destination for investors worldwide.

Notably, the volume of trade exchange between Saudi Arabia and Kuwait reached 10 billion riyals (approximately $2.67 billion) in 2023, including $2.42 billion in Saudi exports and $430 million in Kuwaiti imports.