In a significant step which reflects the depth of brotherly relations and commitment of both countries to strengthening economic and financial cooperation, the State of Qatar and the State of Kuwait have signed a bilateral agreement aimed at avoiding double taxation and removing obstacles that could hinder the movement of capital. The agreement seeks to enhance trade exchange and encourage the flow of investments between the two nations.

The agreement was signed by H.E. Mr. Ali bin Ahmed Al Kuwari, Minister of Finance, and H.E. Engineer Noura Suleiman Al-Fusam, Minister of Finance and Minister of State for Economic Affairs and Investment of Kuwait, during an official ceremony in Kuwait attended by a number of senior officials from both countries.

The agreement seeks to establish a comprehensive legal framework to prevent double taxation between the two governments, thereby creating a fair tax environment that stimulates economic activities and facilitates investment flows. It also aims to address barriers that may restrict capital movement and enhance opportunities for joint commercial cooperation. Both sides reaffirmed their commitment to the highest international standards of transparency through the exchange of verified financial information between the relevant authorities in each country.

The agreement includes several technical provisions related to the regulation of income taxes across various sectors, most notably international transportation. It also covers the taxation of joint ventures, dividends, interest, and royalties. These measures are expected to help reduce double taxation and create a stable and secure investment climate that supports sustainable economic growth.

This agreement is part of the ongoing efforts by both countries to strengthen economic and financial collaboration and enhance Gulf integration in a manner that serves mutual interests and contributes to comprehensive economic development across the region.