UAE, EU discuss means of bolstering bilateral cooperation in various fields

As part of Ministry of Finance’s commitment to strengthening the UAE’s relations with various countries of the world, and regional and international financial institutions and organisations, Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, met with Johannes Hahn, European Commissioner for Budget and Administration, and his accompanying delegation.

Also present during the meeting that took place at the Ministry of Finance’s headquarters in Abu Dhabi was Younis Haji Al Khoori, Under-Secretary of Ministry of Finance (MoF). The meeting sought to discuss means of bolstering bilateral cooperation between both parties across various fields to achieve mutual benefit.

From the EU delegation, Gert Jan Koopman, Director-General, Directorate General for Budget; Emil Paulsen, Deputy Head of the EU Delegation to the UAE; Hanna Jahns, Member of the Commissioner’s Cabinet; Taina Sateri, Trade Counsellor at the EU Delegation; and Giulia Pietrangeli, Regional Advisor at the EU Delegation attended the meeting.

During the meeting, Al Hussaini welcomed Johannes Hahn and his accompanying delegation, and stressed on the importance of such meetings in strengthening cooperation ties between both parties.

He said, “The UAE works with regional and international institutions and organisations to take proactive measures to contribute to mitigating the repercussions of the COVID-19 pandemic, stimulating recovery and supporting sustainable economic growth.”

Johannes Hahn said, “I am grateful for a constructive and forward-looking meeting with UAE Minister of State for Financial Affairs. We have discussed European Union NGEU Recovery Plan and investment opportunities related to EU issuance programme, especially green bonds. In order to implement ambitious priorities of the Paris Agreement, we need investments and sustainable financing opportunities.”

Presented during the meeting was the European Union’s ’Next Generation EU‘ programme, a temporary recovery instrument set up by the EU to support the economic recovery and build a greener, digital and more resilient future for the EU countries.

The meeting came as part of a visit by Johannes Hahn and his accompanying delegation to the UAE, during which he met a number of officials to strengthen bilateral relations and boost cooperation in areas of common interest.

Meanwhile Mohamed Bin Hadi Al Hussaini, Minister of State for Financial Affairs, in December met with Makhtar Diop, Managing Director of the International Finance Corporation (IFC) and his accompanying delegation. The meeting, which took place on the sidelines of Expo 2020 Dubai, sought to discuss IFC’s activities in the UAE and the region.

From the World Bank Group, Dr Merza Hasan, Executive Director and Dean of the Board of Executive Directors at World Bank Group; Hela Cheikhrouhou, Regional Vice President, Middle East, Central Asia, Turkey, Afghanistan and Pakistan; as well as Sufyan Abed Alhameed Al Issa, IFC’s Mena Regional Head of Operations attended the meeting.

During the meeting, Mohamed Bin Hadi Al Hussaini welcomed Mr. Makhtar Diop and his accompanying delegation, and praised the role of this meeting in strengthening the work process and cooperation between both parties.

The meeting deliberated IFC’s strategy in the Mena region, its programmes in the UAE and GCC, as well as the corporation’s work with private companies in the country to support their investments abroad. It also reviewed the regional cross-border investments that allow companies in the UAE to expand into emerging markets in Africa and Asia.

IFC is the largest global development institution focused on the private sector in emerging markets and developing economies. The UAE joined the IFC on Sept.30, 1977.

Meanwhile Mohamed Hadi Al Hussaini, UAE’s Minister of State for Financial Affairs, recently met Dr. Renganaden Padayachy, Minister of Finance (MoF), Economic Planning and Development of Mauritius, at the Ministry of Finance’s (MoF) headquarters in Dubai. The meeting sought to discuss means of bolstering bilateral cooperation to achieve mutual benefit for both countries.

Abdullah Ahmed Al Obaidly, Director of Relations and International Financial Organisations at MoF and Yousuf Mohammed Bin Hajar, Deputy Director of International Financial Relations Department at MoF attended the meeting from the ministry’s side, while Shaukat Ali Soudhan, non-resident Ambassador of Mauritius to the UAE attended from the Mauritius side.

During the meeting, Al Hussaini reiterated the importance of boosting economic and commercial relations between the UAE and Mauritius. He also reaffirmed the ministry’s commitment to contribute to enhancing the UAE’s international relations network, to contribute to achieving the country’s investment and development objectives across various economic, commercial and investment fields.

He said, “These meetings play a pivotal role in intensifying bilateral cooperation and activating common frameworks between both countries.”