The UAE has announced that it will be hosting the exceptional meeting for the Council of Arab Ministers of Finance in Abu Dhabi on 7 September, 2011 in the attendance of HH Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, UAE Minister of Finance.
Attendees will also include the Ministers of Finance of all participating Arab states, in addition to a number of prominent officials from regional and international financial institutions and organizations. The meeting will feature discussions regarding recent economic and development challenges that Arab states are facing, in addition to debating methods of increasing inter-Arab trade activities and enhancing financial policies of these countries.
The meeting will also shed light on the important opportunities present to Arab states that will enable them to enhance their shared socioeconomic standing. Discussions will address current economical and financial issues witnessed by this region, in addition to highlighting shared financial projects that aim to achieve growth and development for Arab states.
HE Obaid Humaid Al Tayer, Minister of State for Financial Affairs, explained that the UAE is hosting this meeting in line with its continuous efforts to enhance inter-Arab relations and increase partnerships in important sectors. HE indicated that the decisions to result out of this meeting will aid in encouraging economic and financial growth among Arab countries.
“Through hosting the upcoming exceptional meeting, the UAE aims to enhance the presence of Arab states in important international meeting and events, in addition to developing the vital role of prominent Arab financial and economic institutions,” HE explained.
HE also added that the meeting falls in line with the Ministry of Finance’s (MoF) efforts to strengthen ties between Arab financial and economic ministries and organizations to enhance cooperation and the exchange of expertise. These efforts reflect MoF’s overall strategy to attain sustainable development for the UAE.
“Hosting the exceptional meeting in Abu Dhabi highlights the prominent position held by the UAE and its Ministry of Finance on a regional scale, and acts as a platform to further develop and follow up on various social and developmental issues pertaining to Arab states,” HE said.
Commenting on the upcoming meeting, Dr Jassim Al Mannai, Director General and Chairman of the Board, Arab Monetary Fund, praised the UAE’s initiative to host the exceptional meeting. He also indicated that the topics to be discussed at the event and all the directives to result from it reflect efforts of Arab states to cooperate among each other to best deal with current economical issues and achieve stability and development for the region. Dr. Al Mannai expressed the Arab Monetary Fund’s commitment to providing all necessary support needed to implement the council’s initiatives.
The Council of Arab Ministers was introduced in 2008 to enhance financial cooperation among Arab states and to consolidate standpoints regarding international financial issues. The Arab Monetary Fund assumes the role of Technical Secretariat for the council.
