On March 14, 2021, the signing ceremony of the Memorandum of Understanding (MOU) between the Council of Exporters and Investors under the Ministry of Foreign Affairs of Ukraine and the Kuwait Chamber of Commerce and Industry took place at the Kuwait CCI.

On behalf of the Council of Exporters and Investors, the MOU was signed by Ambassador of Ukraine in Kuwait Dr. Oleksandr Balanutsa. On behalf of the Kuwaiti side, Chairman of the Kuwait CCI Mohammad Jassem Al-Sager signed the MOU. The Memorandum of Understanding came into force on the date of signature.

According to the Memorandum of Understanding, the Parties will promote the development of bilateral trade and economic relations between Ukraine and Kuwait by establishing direct contacts between enterprises of the two countries, eliminating obstacles to bilateral trade, organizing joint events, exchanging information, participation in international exhibitions etc.

During the ceremony, the Parties emphasized on the existence of active cooperation between Council of Exporters and Investors under the MFA of Ukraine and Kuwait CCI in the field of holding of joint activities. In particular, in January 2020 the Ukrainian-Kuwaiti Business forum was held in Kuwait with the participation of more than 50 companies. On November 18, 2020, the online briefing was held for Ukrainian food exporters in cooperation with the Kirovohrad Regional Chamber of Commerce and Industry. As well, the online seminar entitled "Simple and Secure Investment in Ukrainian real estate" is scheduled for March 16, 2021, a virtual business mission of sweets producers to Kuwait is planned for April 6, 2021.

The Kuwait Chamber of Commerce and Industry is a leading business organization in the country, established in 1959. Subscriptions and authentication fees are the main resources of its’ income.

The Chamber is a consultative entity in all economic affairs.

The Council of Exporters and Investors under the Ministry of Foreign Affairs of Ukraine is a platform where the MFA accumulates information on investment and trade opportunities from around the world, the Council facilitates business contacts between Ukrainian exporters and importers abroad.