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UAE holds first strategic financial dialogue with Poland

UAE holds first strategic financial dialogue with Poland
10 July 2024 20:39


The UAE, represented by the Ministry of Finance, has held the first Strategic Financial Dialogue with the Republic of Poland in Warsaw to strengthen bilateral cooperation in various financial and economic areas of mutual interest and discuss the latest developments in financial markets.

During the event, both sides also explored new opportunities for collaboration in renewable energy and banking sectors.

Led by Younis Haji Al Khoori, Under-Secretary of the Ministry of Finance, the Emirati delegation featured key figures including Ahmed Ibrahim Al Mansouri, Consul-General of the UAE in the Republic of Poland; Maryam Buti, Alsuwaidi CEO of the Securities and Commodities Authority, and Ali Abdullah Sharafi, Acting Assistant Under-Secretary for International Financial Relations at the Ministry of Finance.

This is in addition to Abdulla Al Muhairi, Chief Banking Supervision Central Bank of the UAE; Khadija Ali, Chief Representative - Business Development Segments, DIFC, Saker Asllan, Chief Exchange Operations Officer, Abu Dhabi Securities Exchange, and Ahmed Al Awadi Masdar Director, Development and Investment (EMEA).

The Polish delegation included Paweł Karbownik, Under-Secretary of State, MoF; Robert Krzyśków, Director, International Cooperation Department, MoF; along with senior officials from the Polish Financial Supervision Authority and Polish Banking Supervision Division.

Financial Sustainability
During the opening session, Al Khoori expressed gratitude to Karbownik for hosting the first strategic financial dialogue between the UAE and Poland, praising the strong bilateral relations between the two friendly nations.

Additionally, he underscored the significance of such events not only in bolstering financial cooperation but also in expanding economic, trade, and development ties.

Al Khoori highlighted that the dialogue has provided an ideal platform for sharing the latest developments in financial markets, addressing pressing global priorities and challenges, and exploring innovative solutions in vital sectors.

Furthermore, he emphasised that this dialogue marks another significant step towards evolving bilateral cooperation between Poland and the UAE, urging both nations to intensify their efforts to foster sustainable and prosperous economic growth.

Al Khoori pointed out that while the global economy shows strong resilience, it requires ongoing attention to the efforts and initiatives aiming to achieve financial sustainability, reducing inflation, and addressing climate change.

He affirmed that the UAE had made substantial strides in diversifying its national economy, with the non-oil sector contributing approximately 75 percent to the GDP in 2023, and an expected overall growth rate of 6.2 percent by 2025.

Moreover, he addressed several topics that promise opportunities for cooperation between the two countries, including the renewable energy sector and the sharing of UAE's expertise in treasury bonds program.

Al Khoori stressed that the UAE holds a prominent position as a global financial hub, thanks to numerous initiatives such as instant payment platforms, support for emerging fintech companies, and innovative financing options, as well as to the compliance of the country’s financial policies with international tax policies, which contributes to attracting foreign investments.

Financial Technology
The MoF Under-Secretary highlighted that the Ministry of Finance integrates technology and artificial intelligence solutions to enhance financial workflows, aligning with the UAE's Artificial Intelligence Strategy.

He added that several initiatives for digital transformation have been launched, leveraging AI and metaverse technologies.

Concluding his remarks, Al Khoori thanked the Polish counterpart at the Ministry of Finance for hosting the strategic financial dialogue with the UAE, commending all participants for their contributions and innovative ideas that would help explore further collaboration opportunities in the future.

Finally, Al Khoori expressed his hope that the next strategic financial dialogue would be hosted in the UAE.

During the strategic financial dialogue, the Ministry of Finance of the UAE delivered a presentation on its treasury bonds program and plans to enhance domestic public debt instruments.

It also included a presentation by the Abu Dhabi Securities Exchange on the latest market developments and available investment opportunities, as well as a presentation by the Dubai International Financial Centre on its business environment and investment advantages for global companies.

The sessions also covered discussions on a wide range of topics of mutual interest, including tax policies, financial technology, the latest artificial intelligence tools, and innovative solutions offered for financial markets.

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