A Kuwaiti delegation has commenced the initial round of discussions with Cuban officials on a double taxation agreement aimed at strengthening economic ties between the two countries. The talks, which began on September 9 in Havana, are scheduled to continue through Friday and involve representatives from Kuwait’s Ministries of Finance and Foreign Affairs, alongside Cuban counterparts from the Ministry of Finance.
The Kuwaiti team, led by Bader Al-Abdulhadi, head of the tax agreements section at the Ministry of Finance, includes Ibrahim Al-Ameer and Elaf Al-Rish, a Third Secretary at the Ministry of Foreign Affairs. Kuwait’s Ambassador to Cuba, Adel Al-Adgham, emphasized that Kuwait is among a select group of nations authorized by the Cuban government to negotiate such agreements. He highlighted Kuwait’s longstanding diplomatic relations with Cuba and its interest in expanding trade and economic cooperation across various sectors.
During the visit, the delegation met with Cuba’s Deputy Minister of Foreign Trade and Foreign Investment, Deborah Rivas, who underscored the investment opportunities available in Cuba. Rivas expressed appreciation for Kuwait’s ongoing support and economic partnership, particularly commending the Kuwait Fund for Arab Economic Development for its pioneering role in financing infrastructure projects in Cuba. The fund is noted as the first development organization to operate within the country.
The Kuwaiti officials also held discussions with Juana Lilia, Governor of the Central Bank of Cuba, who provided an overview of Cuba’s current economic and financial status. She briefed the delegation on recent legislative changes affecting investment, which are under consideration during the negotiations to ensure the agreement aligns with both nations’ laws.
The double taxation agreement aims to prevent the occurrence of individuals and businesses being taxed twice on the same income or financial activities in both Kuwait and Cuba. By addressing these issues, both countries seek to facilitate increased bilateral trade and investment, further strengthening their economic relationship.
