ID :
55799
Thu, 04/16/2009 - 14:21
Auther :
Shortlink :
https://oananews.org//node/55799
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UAE participates in the 38th Annual Arab Financial Institutions meeting in Jordan
Amman, April 16, 2009 (WAM) - A delegation comprising of prominent UAE ministerial heads participated in the 38th Annual Arab Financial Institutions Meeting in the Jordanian capital Amman.
The meeting has seen active participation from a large number of Arab countries. The UAE delegation was headed by HE Obaid Humaid Al Tayer, Minister of State for Financial Affairs, and included HE Sultan Nasser Al Suwaidi, the UAE Central Bank Governor.
"Under the generous guidance of His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE, and His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai, the delegation's activities aimed at strengthening joint Arab action in various sectors," H.E. Obaid Humaid Al Tayer, Minister of State for Financial Affairs, said in his comments on UAE's participation.
"Dealing with the current economic conditions requires Arab countries to cooperate and coordinate effectively. The UAE delegation held a large number of meetings with other participating delegations to discuss the many issues that contribute to the development and strengthening of cooperative relations between Arab countries," he stressed.
He also stated that other issues discussed during these meetings, included the Arab Financial Institutions' annual reports, their plans for the coming fiscal year, verifying their profit and loss accounts, as well as discussing other topics related to their business, practices and programs.
On the sidelines of the meeting, an agreement for investment protection and promotion was signed between the United Arab Emirates and the Hashemite Kingdom of Jordan. The agreement was signed by His Excellency Obaid Humaid Al Tayer, Minister of State for Financial Affairs on behalf of UAE and His Excellency Basem Al-Salem, the Jordanian Minister of Finance. The agreement aims to encourage UAE and Jordanian businesses and investors to invest in the two countries and provides the foundation and framework that will help stimulate and increase trade and investment activities.
The meeting discussed a joint Arab strategy to face the repercussions of the global financial crisis and follow-up on the statements issued by the Arab Summit Conference on Economic and Social Development held last January. In addition, it discussed the development initiative launched by the Emir of Kuwait at the earlier conference, which aimed to provide necessary financial resources to support the small and medium-sized enterprises.
Key Arab financial institutions that participated in the meetings included the Arab Fund for Economic Development, Arab Monetary Fund, Arab Investment Guarantee Corporation, Arab Organization for Agricultural Development and the Arab Bank for Development in Africa.
The meeting has seen active participation from a large number of Arab countries. The UAE delegation was headed by HE Obaid Humaid Al Tayer, Minister of State for Financial Affairs, and included HE Sultan Nasser Al Suwaidi, the UAE Central Bank Governor.
"Under the generous guidance of His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE, and His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai, the delegation's activities aimed at strengthening joint Arab action in various sectors," H.E. Obaid Humaid Al Tayer, Minister of State for Financial Affairs, said in his comments on UAE's participation.
"Dealing with the current economic conditions requires Arab countries to cooperate and coordinate effectively. The UAE delegation held a large number of meetings with other participating delegations to discuss the many issues that contribute to the development and strengthening of cooperative relations between Arab countries," he stressed.
He also stated that other issues discussed during these meetings, included the Arab Financial Institutions' annual reports, their plans for the coming fiscal year, verifying their profit and loss accounts, as well as discussing other topics related to their business, practices and programs.
On the sidelines of the meeting, an agreement for investment protection and promotion was signed between the United Arab Emirates and the Hashemite Kingdom of Jordan. The agreement was signed by His Excellency Obaid Humaid Al Tayer, Minister of State for Financial Affairs on behalf of UAE and His Excellency Basem Al-Salem, the Jordanian Minister of Finance. The agreement aims to encourage UAE and Jordanian businesses and investors to invest in the two countries and provides the foundation and framework that will help stimulate and increase trade and investment activities.
The meeting discussed a joint Arab strategy to face the repercussions of the global financial crisis and follow-up on the statements issued by the Arab Summit Conference on Economic and Social Development held last January. In addition, it discussed the development initiative launched by the Emir of Kuwait at the earlier conference, which aimed to provide necessary financial resources to support the small and medium-sized enterprises.
Key Arab financial institutions that participated in the meetings included the Arab Fund for Economic Development, Arab Monetary Fund, Arab Investment Guarantee Corporation, Arab Organization for Agricultural Development and the Arab Bank for Development in Africa.
