The UAE Minister of State for Financial Affairs, Mohamed bin Hadi Al Hussaini, has led the UAE delegation to the 122nd GCC Financial and Economic Cooperation Committee meeting.
The meeting, which took place in Doha, was attended by GCC Ministers of Finance. The 122nd meeting focused on key financial and economic issues impacting the GCC countries, with the aim to enhance economic cooperation and drive sustainable growth across the region.
The UAE delegation also included Younis Haji Al Khoori, Undersecretary of the Ministry of Finance, Khalid Ali Al Bustani, Director General of the Federal Tax Authority, Ahmed Abdullah Lahej Al Falasi Director General of Customs at the Federal Authority for Identity, Citizenship, Customs and Port Security, and a number of officials from the Ministry of Finance.
In the meeting, the ministers highlighted the outcomes of the 83rd meeting of the GCC Central Bank Governors Committee, as well as the meeting of the Customs Union. Additionally, the enhancement of working groups formed by decisions from the previous Financial and Economic Cooperation Committee meeting were reviewed.
The meeting also discussed the Ministerial Council’s decision at its 161st session regarding the future role of the Customs Union Board of Directors, and the necessary follow-up projects to complete the establishment of the Customs Union.
Furthermore, the outcomes of the 13th meeting of the Committee of Heads and Directors of Tax Departments, and the 41st meeting of the GCC Common Market Committee were also included.
Mohamed bin Hadi Al Hussaini stressed that the UAE’s participation in the GCC Financial and Economic Cooperation Committee meeting aims to reinforce the economic integration among GCC countries and contribute to achieving sustainable development. Al Hussaini stated that the rapidly-evolving global economic landscape requires collective cooperation and joint efforts to formulate robust financial policies capable of adapting to these shifts.
Mohamed bin Hadi Al Hussaini Minister of State for Financial Affairs UAE
“These meetings provide an ideal platform to accelerate the pace of joint action and achieve prosperity and sustainability in the region. We are committed to harnessing international expertise, such as that offered by the International Monetary Fund, to develop financial strategies that strengthen the resilience of our national economies and open up new opportunities for investment and development.”
The UAE Minister of State for Financial Affairs attended the opening of the “Future of the GCC” forum, which took place in cooperation with Georgetown University.
The forum included a joint ministerial session featuring several experts and academics, exploring the future of economic cooperation in the region as well as the challenges and opportunities ahead.
In addition to that, the discussions also explored ways to enhance collaboration with academic institutions to implement effective financial policies.
The Minister also participated in a joint meeting between GCC finance ministers and central bank governors with the Managing Director of the International Monetary Fund (IMF). The meeting reaffirmed GCC countries’ commitment to navigating the global economic changes.
