The General Authority for Foreign Trade (GAFT) has approved the final formation of the Saudi-Kuwaiti Joint Business Council for its inaugural term (1447-1451 AH). Mr. Salman bin Hassan Al-Aqial has been appointed as Chairman of the Saudi-Kuwaiti Joint Business Council and Chairman of the Executive Committee. Mr. Tareq bin Farid Al-Othman and Mr. Tareq bin Ahmed AlQahtani have been appointed as Vice Chairman of the Council and Vice Chairman of the Executive Committee.

The volume of trade exchange between the Kingdom of Saudi Arabia and the State of Kuwait during the period 2020-2024 amounted to approximately USD 12 billion. Saudi exports to Kuwait were led by dairy products and plastics and articles thereof, while imports from Kuwait primarily included mineral fuels, oils, and waxes, as well as works of art and antiques.

It is worth mentioning that the Saudi-foreign joint business councils are joint platforms comprising representatives from the business sector in the Kingdom and their counterparts in other countries with investments or commercial operations between the two sides. These councils are supervised by the General Authority for Foreign Trade, with a total of 105 bilateral and regional joint business councils currently established.