RYADH: Economic cooperation between Saudi Arabia and Kuwait will soon prosper thanks to the establishment of the first joint council between the two countries.

The announcement came during a meeting between the President of the Federation of Saudi Chambers, Hassan bin Moejeb Al-Huwaizi, and Kuwait’s ambassador to the Kingdom, Sheikh Sabah Nasser Sabah Al-Ahmad Al-Sabah, where the two sides reviewed the investment environment and opportunities between them, the Saudi Press Agency reported.

The trade exchange between the Kingdom and Kuwait amounted to SR10 billion in 2023 ($2.66 billion), including SR8.4 billion in Saudi exports and SR1.6 billion in Kuwaiti imports.

During the meeting, both parties also reviewed an investment forum hosted in Riyadh as well as facilitating Kuwaiti investors to participate in the Hafr Al-Batin Investment Forum 2025.

Al-Huwaizi said that the outcomes of the meeting with the Kuwaiti ambassador represent a new stage of economic cooperation between the two countries, noting the promising partnership prospects between the two business sectors.

Sheikh Sabah expressed his aspiration to reach comprehensive economic integration between the two countries, remarking the development witnessed by the investment environment in Saudi Arabia, which made it a destination for investors from all over the world.