Dr. Anwar Ali Al-Mudhaf, Kuwait’s Minister of Finance, underscored the importance of the recent UAE-Kuwait agreement to prevent double taxation, aimed at combating tax evasion and avoidance.
Speaking to the Emirates News Agency (WAM) during the 8th Arab Fiscal Forum on the pre-summit day of the World Governments Summit (WGS) 2024, Dr. Al-Mudhaf mentioned that the agreement was finalized after thorough discussions, reflecting the importance of the UAE-Kuwait relations.
He highlighted the agreement’s role in promoting economic and financial integration, fostering the free movement of capital between the UAE and Kuwait. Dr. Al-Mudhaf anticipated positive effects on the citizens and investors of both countries, according to WAM.
Underlining the significance of the World Governments Summit as an annual platform to explore future opportunities and challenges, Dr. Al-Mudhaf noted Kuwait’s participation as a reaffirmation of the strong strategic and fraternal ties between the UAE and Kuwait.
The Kuwaiti Finance Minister acknowledged the global importance of the UAE, evident in the participation of over 25 heads of state and government, 140 government delegations, and more than 85 international and regional organizations and global institutions in the summit events, highlighting the UAE’s elevated status in the international community from economic and political perspectives.