Today's Edition
WASHINGTON (WAM)
Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, held a series of bilateral meetings with finance ministers and senior international officials on the sidelines of the Annual Meetings of the World Bank Group and the International Monetary Fund, where he is leading the UAE delegation.
The meetings, which took place in Washington, included counterparts from the United States, France, the United Kingdom, Canada, Argentina, Switzerland and Norway. The ministers discussed ways to expand avenues for financial cooperation as well as key fiscal and taxation issues of mutual interest.
During his meeting with Scott Bessent, US Secretary of the Treasury, Al Hussaini explored prospects for strengthening strategic cooperation between the two countries across financial and economic sectors, in the presence of Khaled Mohamed Balama, Governor of the Central Bank of the UAE (CBUAE).
Al Hussaini commended the United States’ leadership of the finance track of the G20 this year, and expressed the UAE’s appreciation for the invitation to participate as a guest country in the group’s finance track. He noted that the invitation reflects the depth of the bilateral partnership and the growing international recognition of the UAE’s expanding financial and economic role.
He added that the meeting with the US Treasury Secretary provided an important platform to align perspectives on current financial priorities and to explore innovative solutions that support the stability of the regional financial system.
In a bilateral meeting with Roland Lescure, France’s Minister for the Economy, Finance and Industrial and Digital Sovereignty, Al Hussaini discussed the financial partnership between the two countries, underpinned by a solid framework of governing agreements. The two sides also explored ways to elevate cooperation and expand the exchange of expertise across key financial sectors.
Al Hussaini also held a meeting with Rachel Reeves, UK Chancellor of the Exchequer, where discussions focused on enhancing bilateral financial cooperation and reviewing the strategic partnership between the two countries across areas of shared financial interest.
Both sides stressed the importance of sustained coordination and the exchange of views on global financial issues to support mutual interests and reinforce the strong ties between the UAE and the United Kingdom.
During his meeting with François-Philippe Champagne, Minister of Finance and National Revenue of Canada, Al Hussaini discussed areas of mutual financial cooperation, highlighting the importance of aligning efforts to further develop frameworks that serve shared interests between the two countries.
Both sides emphasised the need to strengthen bilateral channels of collaboration to support financial sustainability and expand opportunities that contribute to sustained economic prosperity for both nations.
Al Hussaini also held a meeting with Luis Caputo, Argentina's Minister of Finance, where both sides highlighted the positive momentum in bilateral relations, particularly following the entry into force of the Investment Promotion and Protection Agreement in November 2024.
The agreement provides a robust framework underpinning a secure and sustainable investment environment. The meeting explored avenues to expand financial and economic cooperation, with both sides reaffirming the importance of the existing Double Taxation Avoidance Agreement in establishing clear tax frameworks and safeguarding investment flows, thereby supporting joint economic growth and opening new channels of collaboration between the business communities of both countries.
Al Hussaini also met with Daniela Stoffel, State Secretary for International Finance of the Swiss Confederation. Both sides praised the strength of bilateral financial relations, which are built on mutual trust and the integration of their financial systems.
They reaffirmed their commitment to further cementing the bilateral financial cooperation agenda, while enhancing regulatory coordination and strengthening institutional linkages.
During his meeting with Jens Stoltenberg, Minister of Finance of Norway, Al Hussaini discussed ways to further develop the shared legal and institutional framework, supporting new avenues for financial partnership and fostering a business-conducive environment in both countries.
Both sides expressed their aspirations to bolster cooperation and exchange expertise across areas of mutual financial interest, reinforcing the strength of bilateral ties between the UAE and Norway.
These engagements fall under the framework of the UAE’s commitment to strengthening strategic ties across global financial and economic centres.
Through these intensive discussions, the UAE delegation continues to advance innovative cooperation frameworks that contribute to the stability of the global financial system.
