Dubai’s trade with Kuwait reached Dhs8.52bn in H1 2020

Trade between Dubai and Kuwait reached Dhs8.52bn in the first half of 2020, according to figures released by Dubai Customs.

The figures were released on Wednesday, a day ahead of Kuwait’s 60th National Day which falls on February 25.

“The volume of Dubai’s external trade with Kuwait enhances the already strong relationship between the UAE and Kuwait,” said Ahmed Mahboob Musabih, director general of Dubai Customs. “Our partnership with Kuwait has seen steady progress in the last few years, which has translated into increased trading activity between the two states.”

Read: Kuwait projects $183bn cumulative deficit over five years

“Dubai Customs has been constantly working to build on our economic ties by facilitating stronger trade and passenger traffic with Kuwait.”

“Dubai Customs has also been committed to boost customs cooperation with Kuwait and facilitate opportunities for closer trade relationships as well as to help Kuwaiti institutions and companies benefit from Dubai’s status as a strategic global hub for trade. Despite the challenges posed by the spread of the pandemic, we are keen to play an important role in strengthening the global supply chain and doing everything possible to support our trade partners in growing their business,” he added.

In the same H1 2020 period, Dubai reported Dhs551bn worth of non-oil external trade. China was Dubai’s largest trading partner with Dhs66.4bn worth of trade, followed by India at Dhs38.5bn, the US at Dhs31.7bn and Switzerland at Dhs24.3bn. Saudi Arabia was Dubai’s largest Gulf and Arab trading partner, and its fifth largest global trading partner after Switzerland with trade valued at Dhs24.1bn.

Read: Dubai records Dhs551bn non-oil external trade in H1 2020