RIYADH — The Federation of Saudi Chambers announced the formation of the first joint Saudi-Kuwaiti Business Council. Salman Al-Oqayel has been elected chairman of the council for its four-year inaugural term (1447–1451 AH) while Tariq Farid Al-Othman and Tariq Ahmed Al-Qahtani were chosen as deputy chairmen. Al-Oqayel said the council’s formation marks a pivotal milestone in economic relations between Saudi Arabia and Kuwait, reflecting a practical approach to enabling the business sectors in both countries to capitalize on promising investment opportunities and strengthen bilateral trade and investment partnerships. Al-Oqayel said that the council will work on setting specific objectives and approving a strategic action plan, to be implemented in coordination with relevant government agencies. “This will contribute to creating an attractive investment environment, raising the level of trade and investment partnerships between the business sectors in both countries, and enhancing the council's role in supporting joint economic cooperation,” he said.Al-Oqayel emphasized that the action plan will focus on priority sectors in both countries, particularly those related to Saudi Arabia's Vision 2030 and Kuwait's Vision 2035. It will also highlight investment opportunities and markets, maximize the benefits of comparative advantages and trade and economic agreements, and enable Saudi and Kuwaiti companies to expand and enter each other's markets. Al-Oqayel noted that trade between Saudi Arabia and Kuwait reached SR9.5 billion by the end of November 2025, including SR8 billion in Saudi exports and SR1.5 billion in Kuwaiti imports. During its meeting with the Kuwaiti Ambassador to the Kingdom in December 2025, the Federation of Saudi Chambers announced the commencement of procedures to establish a joint Saudi-Kuwaiti Business Council. The council officially launched its operations on Sunday as a strategic platform to support business owners in both countries.