The UAE is participating in the meeting of the Finance Ministers and Banking Governors of the Group of Twenty countries
Cape Town, February 26 / WAM / The UAE, represented by the Ministry of Finance and the United Arab Emirates Bank, participated in the first meeting of the Finance Ministers and Central Banks Governor of the Group of Group of Twenty G20 FMCBG, which is held 26 and 27 February in the city of Cape Town, South Africa, which is headed The 20th Group of 2025.
The UAE delegation, which was chaired by His Excellency Mohammed bin Hadi Al -Husseini, Minister of State for Financial Affairs, included His Excellency Ibrahim Obaid Al -Zaabi, Assistant Governor for Monetary Policy and Financial Stability in the Emirates Central Bank, and Ali Abdullah Sharafi, Acting Assistant Undersecretary for International Financial Relations Affairs in the Ministry of Finance, Hamed Al -Hashemi, Director of the International Relations and Financial Organizations Department at the Ministry.
The meeting focused on discussing the priorities of the financial path of the Group of Twenty, which was set by the South African Presidency of 2025 under the slogan “Promotion of Solidarity, Equality and Sustainability”, and setting a strategy to deal with global challenges, which includes enhancing the ability to withstand and respond to disasters, and ensure the ability to withstand debts to countries Low Comprehensive growth and sustainable development, macroeconomic growth, international financial structure, infrastructure development, tax cooperation, and cooperation in the field of health financing, in addition to issues related to the financial sector, financial inclusion and sustainable financing.
The meeting also discussed many topics on the agenda, including the prospects for global economic growth, risk identification, and enhancing specific measures to enhance cooperation in the field of macroeconomic.
Al -Husseini highlighted the challenges imposed by the restrictions of financial sustainability, which affect the economies of emerging markets and developing economies, in light of the high levels of global debt, and uncertainty about inflation.
He reviewed the efforts of the Group of Twenty to support multilateral development banks, enhance the ability and financial flexibility to withstand the debts of emerging markets and developing economies, by developing innovative mechanisms and strategies to enhance global financial stability, support emerging markets and developing economies, expand the exchange of knowledge and transparency of data on capital flows.
The discussions focused on developing an attractive infrastructure for investment and enhancing mixed financing role.
During the discussions on sustainable financing, Al -Husseini highlighted the importance of enhancing investor confidence to launch additional capital and ensure the success of joint financing initiatives, and the importance of harmonization of prospects and expectations with the goals of national economic growth to attract private sector investments and increase the economic impact, stressing the UAE’s commitment to strengthening commercial corridors globally To support the development of cross -border infrastructure and enhance commercial interconnection.
With regard to effective and comprehensive tax cooperation, His Excellency renewed the UAE’s commitment to work alongside various countries to enhance a more comprehensive international tax system, stressing the importance of mobilizing local resources in this context, with the aim of enhancing capacity building to achieve sustainable development goals.
On the sidelines of the meetings, His Excellency Al -Husseini held a bilateral meeting with His Excellency Dr. Juerg Cookies, the German Finance Minister, to discuss cooperation opportunities within the framework of the South African presidency of the Group of Twenty, and ways to enhance financial cooperation between the UAE and Germany.
The UAE, represented by the Ministry of Finance and the United Arab Emirates Central Bank, participated in the second meeting of the ministries of the ministries of finance and deputies of the central banks of the Group of Twenty, which was held in the city of Cape Town on February 24-25.
The state’s delegation at the meeting included His Excellency Ibrahim Obaid Al -Zaabi, Assistant Governor of Monetary Policy and Financial Stability in the Emirates Central Bank, Ali Abdullah Sharafi, Acting Assistant Undersecretary for International Financial Relations at the Ministry of Finance, and Three Hamid Al Hashemi, Director of the Department of Relations and International Financial Organizations in the Ministry, And Faris Al -Kaabi, First Director of International Relations at the Emirates Central Bank.
Participants in the meeting discussed the main topics on the agenda, including development financing, review of the group’s work practices, and enhancing sustainable development in emerging market economies and developing economies.
The state delegation highlighted the role of international trade as a major engine for development, the importance of enhancing the ability to address debt to expand the financial space allocated to investing in sustainable development goals, in addition to enhancing comprehensive benefit from technological progress and data monitoring to support sustainable development.
The delegation reviewed the main challenges facing low -income countries, including challenges related to the investment environment, infrastructure efficiency, high debt levels and capital costs.
- For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Related
