emirates7 - Mohamed bin Hadi Al Hussaini, the UAE Minister of State for Financial Affairs, led the country's delegation at the 122nd Financial and Economic Cooperation Committee meeting of the GCC, held in Doha, Qatar, on October 2 and 3. The meeting brought together GCC finance ministers to discuss a variety of financial and economic matters, with numerous decisions made to enhance regional economic collaboration and promote sustainable development.
Key topics included the outcomes of the 83rd meeting of the GCC Central Bank Governors Committee and discussions on the Customs Union. The ministers also reviewed the progress of working groups established during the previous Financial and Economic Cooperation Committee meeting. They further addressed the Ministerial Council's decision on the future role of the Customs Union Board and the steps needed to finalize the Customs Union.
Other important issues included the results of the 13th meeting of the Committee of Heads and Directors of Tax Departments and the 41st meeting of the GCC Common Market Committee.
The UAE delegation, in addition to Al Hussaini, included senior officials such as Younis Haji Al Khoori, Undersecretary of the Ministry of Finance, Khalid Ali Al Bustani, Director General of the Federal Tax Authority, and Ahmed Abdullah Lahej Al Falasi, Director General of Customs at the Federal Authority for Identity, Citizenship, Customs and Port Security.
Al Hussaini emphasized the importance of the UAE’s participation in fostering greater economic integration among GCC countries to achieve sustainable development. He highlighted the need for coordinated efforts to address the challenges hindering economic unity, particularly the completion of the Customs Union. He noted that the rapidly changing global economic environment requires joint efforts to craft resilient financial policies that can adapt to these shifts.
Al Hussaini also stressed that these meetings offer a crucial opportunity to accelerate regional cooperation, enhance prosperity, and promote sustainability. He pointed to the value of international expertise, such as that of the International Monetary Fund (IMF), in developing financial strategies that bolster the resilience of national economies and unlock new investment opportunities.
During the committee's session, Al Hussaini attended the opening of the "Future of the GCC" forum, organized in partnership with Georgetown University. The forum featured a joint ministerial session with experts and academics, focusing on the future of regional economic cooperation and the challenges and opportunities ahead. The discussions explored ways to strengthen ties with academic institutions to develop sound financial policies.
Al Hussaini also participated in a joint meeting between GCC finance ministers, central bank governors, and the Managing Director of the IMF. The meeting reaffirmed the commitment to continued coordination among GCC countries in navigating global economic shifts.
Key topics included the outcomes of the 83rd meeting of the GCC Central Bank Governors Committee and discussions on the Customs Union. The ministers also reviewed the progress of working groups established during the previous Financial and Economic Cooperation Committee meeting. They further addressed the Ministerial Council's decision on the future role of the Customs Union Board and the steps needed to finalize the Customs Union.
Other important issues included the results of the 13th meeting of the Committee of Heads and Directors of Tax Departments and the 41st meeting of the GCC Common Market Committee.
The UAE delegation, in addition to Al Hussaini, included senior officials such as Younis Haji Al Khoori, Undersecretary of the Ministry of Finance, Khalid Ali Al Bustani, Director General of the Federal Tax Authority, and Ahmed Abdullah Lahej Al Falasi, Director General of Customs at the Federal Authority for Identity, Citizenship, Customs and Port Security.
Al Hussaini emphasized the importance of the UAE’s participation in fostering greater economic integration among GCC countries to achieve sustainable development. He highlighted the need for coordinated efforts to address the challenges hindering economic unity, particularly the completion of the Customs Union. He noted that the rapidly changing global economic environment requires joint efforts to craft resilient financial policies that can adapt to these shifts.
Al Hussaini also stressed that these meetings offer a crucial opportunity to accelerate regional cooperation, enhance prosperity, and promote sustainability. He pointed to the value of international expertise, such as that of the International Monetary Fund (IMF), in developing financial strategies that bolster the resilience of national economies and unlock new investment opportunities.
During the committee's session, Al Hussaini attended the opening of the "Future of the GCC" forum, organized in partnership with Georgetown University. The forum featured a joint ministerial session with experts and academics, focusing on the future of regional economic cooperation and the challenges and opportunities ahead. The discussions explored ways to strengthen ties with academic institutions to develop sound financial policies.
Al Hussaini also participated in a joint meeting between GCC finance ministers, central bank governors, and the Managing Director of the IMF. The meeting reaffirmed the commitment to continued coordination among GCC countries in navigating global economic shifts.