Economy: Arab Finance Ministers to Meet This Week

Arab Finance Ministers to Meet This Week

Arab Finance Ministers to Meet This Week

The finance ministry of the United Arab Emirates has said that finance ministers are set to come together for an ‘exceptional meeting’ in the U.A.E. on September 7th to discuss global economic developments, and also the political changes that the Arab world is witnessing and their implications on their economies in the short and long-terms.

Meeting will take place in Abu Dhabi 

Abu Dhabi will be the location for the meeting of the Council of Arab Ministers of Finance. In a statement sent through email In detail they will discuss the agenda for reform of the global economic and financial system, any issues that are a direct concern to the Arab world and not forgetting Abu Dhabi’s initiative for restructuring Arab economies and strengthening inter-Arab economic relations among other issues such as food security.

The meeting will be taking place at a time when parts of the Middle East and North Africa is facing major political changes. These changes have led to the toppling of the regimes which were fixed in Tunisia, Egypt, and Libya and violent fighting within Syria and Yemen which still continues.

The statement also said that it was expected that finance ministers will be discussing ways in which to coordinate tax policies between the Arab states. The goal of this is too strengthen regional integration, and the it has been revealed that the meeting will be attended by a number of senior officials from regional and international financial institutions.

“The U.A.E. will be hosting the exceptional meeting”

Obaid Humaid Al Tayer, U.A.E. minister of state of financial affairs said: “The U.A.E. will be hosting the exceptional meeting, where it will present its initiative and clarify a new plan for joint Arab investments in addition to discussing a number of specific economic and social projects in partnership with regional and global partners and entities in addition to donor countries”.

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