UAE MoF joins GCC Secretariat General to boost financial, economic sectors

By Rahul Vaimal, Associate Editor
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Ministry of Finance (MoF), UAE

UAE’s Ministry of Finance (MoF) has signed a Memorandum of Understanding (MoU) with the Secretariat General of the GCC, to develop and introduce joint programs and initiatives in the financial and economic sectors as part of the GCC Pavilion during the Dubai Expo 2020.

This deal is a part of its efforts to develop a means of cooperation and integration between the GCC countries in all fields and to strengthen ties between the people of the region.

The signing took place at MoF’s headquarters in Abu Dhabi, in the presence of Younis Haji Al Khoori, Undersecretary of MoF and Khalid Ibrahim Al Sheikh, GCC’s Expo 2020 Commissioner-General, along with the other delegates.

During the meeting, HE Al Khoori reviewed the presentation prepared by the GCC General Secretariat on the most relevant activities and programs to be conducted during the Dubai Expo 2020 in the Secretariat Pavilion.

HE Al Khoori stressed the importance of the MoU in establishing the basis of cooperation in setting up joint programs and initiatives in the areas of collaboration and integration in the financial and economic fields between the GCC countries.

HE Al Khoori noted that mutual support will be provided within the available capabilities and according to the laws and regulations.

H.E Younis Haji Al Khoori
UAE Ministry of Finance

“The MoU falls under the Ministry of Finance’s framework of developing prospects for cooperation and coordination between the ministry and the Secretariat General of the GCC in areas of common interest and to achieve the ultimate benefit from participating in the Dubai Expo 2020. The Ministry of Finance is committed to its role in providing all means of support required to advance the march of GCC cooperation and economic integration and to achieve sustainable economic development in the GCC.”

The MoU involves collaboration in various fields, including;

  • The consideration of the MoF as a major partner in all economic and development activities to be organized in the GCC Pavilion at Expo Dubai 2020
  • The development of joint programs and initiatives and
  • The organizing of workshops, seminars, conferences and discussions and training sessions within the GCC Pavilion in the fields of economics and development.

Also, the deal includes the launching of economic and development programs, projects and activities in collaboration with the other pavilions participating in the show, especially the pavilions of the GCC countries.