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- Younis Al Khoori: Dialogue demonstrates strength of UAE-Swiss partnership and presents opportunity for cooperation between the two countries to continue to expand further for growth and prosperity
- Younis Al Khoori: The UAE and Switzerland share common goals in the field of sustainable development, which presents a potentially mutually beneficial area of ​​cooperation between the two countries in the context of sustainable finance
- Both parties explore shared sustainable finance priorities, identifying potential synergies for financing climate action plans ahead of and during COP28
Bern – Switzerland: The United Arab Emirates, represented by the Ministry of Finance (MoF), held the fifth financial dialogue with the Swiss Confederation in the Swiss capital Bern. The two sides discussed ways to strengthen strategic relations and bilateral cooperation in various development, economic and financial fields of mutual interest.
His Excellency Younis Haji Al Khoori, Deputy Minister of Finance, led the UAE delegation, which included His Excellency Dr. Hessa Abdullah Al Otaiba, UAE Ambassador to the Swiss Confederation; Dhaher bin Dhaher Al Mheiri, CEO of Abu Dhabi Global Market (ADGM); Philippe Richard, Head of International Affairs and Executive Director, ADGM; Christian Kunz, Chief Strategy, Innovation and Ventures Officer, Dubai International Financial Center (DIFC); Ahmad Khalid bin Sulaiman, Director, Federal Debt Management Office, Ministry of Finance; Thuraiya AlHashmi, Minister; Khalifa Al Fahim, Financial Policy and Stability Department, Central Bank of the UAE; Mansoor Almansoori, Head, European Economic Affairs Division, Ministry of Foreign Affairs and International Cooperation; Asma Al Zarooni, Head, Tax Information Exchange Section, Ministry of Finance; Prudential, Dubai Financial Services Authority Mohamad El Khalil, director of supervision; and senior officials of the Federation of UAE Banks and the Anti-Money Laundering and Counter-Terrorist Financing Executive Office.
In Switzerland, His Excellency Daniela Stoffel Delperte, State Secretary for International Finance of the Swiss Federal Ministry of Finance, Mr. Stefan Flückiger, Deputy State Secretary for International Finance, and senior officials from the Swiss National Bank (SNB), the Ministry of Foreign Affairs, the Federal Office for the Environment (FOEN) and the Swiss Bankers Association attended meeting.
In his speech, His Excellency Younis Haji Al Khoori thanked His Excellency Daniela Stoffel Delperte for chairing the Fifth Financial Dialogue between the UAE and the Swiss Confederation, underscoring the importance of the dialogue, which demonstrates the strength of the UAE-Swiss partnership. His Excellency also noted that the dialogue presents an opportunity for cooperation between the two countries to continue to expand further for growth and prosperity.
Your Excellency mentioned that since the last meeting between the two sides in Abu Dhabi in March 2022, the global economy has developed rapidly, economic instability remains high, people’s concerns about global financial stability, debt vulnerabilities, persistently high global inflation and the urgency Rising concerns persist. Fight climate change. “To address these challenges, the UAE remains focused on accelerating its economic diversification efforts, demonstrating resilience and maintaining a strong economic outlook, with non-oil growth expected to reach 4.2% in 2023 and a further 4.6% in 2024,” His Excellency said.
His Excellency also discussed other topics that play an important role in shaping the UAE’s financial future, including the UAE’s positive financial regulatory environment, plans to support fintech, insurtech, regulatory technology (RegTech) and Islamic fintech start-ups. This complements the diversification of financial options in the UAE, which in turn reaffirms the creativity and responsiveness of the local financial sector and its role in strengthening the UAE’s position as a leading global financial centre.
His Excellency added that the UAE and Switzerland share common goals in the field of sustainable development, which presents a potential and mutually beneficial area of ​​coordination between the two countries in the context of sustainable finance. The two sides explored shared sustainable finance priorities, identifying potential synergies for financing climate action plans ahead of and during the 28th session of the United Nations Climate Change Conference (COP28) by highlighting potential areas of collaboration.
At the end of his speech, His Excellency Al Khoori thanked all participants for their efforts to make this dialogue a success and for their cutting-edge thinking that will help develop the financial sector and promote the process of sustainable and comprehensive development in both countries. His Excellency also noted that the dialogue marks another milestone in the bilateral cooperation between Switzerland and the UAE, and invited all participants to attend COP28, which will be hosted by the UAE at Expo City Dubai from 30 November to 12 December, 2023.
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