Established in May 2016, the Kuwait Business Council is an independent, non-profit organisation run by a team of volunteers. The council’s remit is to enhance opportunities and relationships for Kuwaiti companies operating in the UAE.
The council hosts cultural, social and business events. It works to raise awareness of issues such as the implementation of VAT and creates partnerships and agreements. The organisation also produces studies and reports through collaborations with experts and consultants.
Currently the council comprises 21 members but it’s looking to attract more. Corporations can register if 50 per cent of the business is owned by a Kuwaiti national. Kuwaitis can also join as individuals or you can be granted special or honorary membership from the members of the council.
The council is made up of some of Kuwait’s most successful exports. “Our members include the National Bank of Kuwait, Agility, which is one of the largest logistics companies in the world, and Gastronomica, which is in F&B,” says Sa’ad Al Rubaiaan, Founding Chairman of Kuwait Business Council.
“Al Ahli Bank of Kuwait is another one of our members as well as Kamco, which is one of the biggest asset managers in the region.”
The council’s role is multifaceted and involves mediation between private and public entities as well as raising awareness of subjects such as Kuwaiti workers’ rights. “If you are a Kuwaiti citizen working in another GCC country, you are eligible for a social pension from the Kuwaiti government,” says Al Rubaiaan.
“We are working with Kuwaiti government entities to expand coverage of this programme so that every individual, company and professional will benefit from the scheme. We are looking to expand and improve the scheme through working closely with the government in Kuwait.”
Al Rubaiaan also refers to how the organisation has recently been working with the Sharjah Electricity and Water Authority (SEWA) to find a solution to rising utility bills for Kuwaiti real estate investors. “We are now working closely with SEWA to find a better solution that will benefit the economy of the emirate as well as help Kuwaiti real estate owners,” he says.
On March 9 and 10, the council will host a special National Day event in partnership with Emaar at Dubai Creek Harbour. “I would like to call all Kuwaiti companies that are keen to increase their exposure to this market to take part in the National Day Festival in any way they can,” says Al Rubaiaan.
Historically, the UAE and Kuwait share a special relationship. But it’s no surprise to Al Rubaiaan. “The relationship between Emiratis and Kuwaitis started before there were any diplomatic and international relations between the two countries,” he says. “We have a long, rich history of trade.”
