In line with the third session of the Arab Ministers of Finance’s and members of the Arab Group of the International Monetary Fund meeting that will be held in Morocco; The Ministry of Finance of the UAE (MoF) is hosting a business breakfast in Marrakech for Their Excellencies on Tuesday, April 17, 2012.
MoF issued the invitation to Their Excellencies and to HE Dr. Abdul Shakur Shaalan, Group Executive Director, in addition to inviting regional and international representatives from the World Bank and the Arab Funding Bodies.
The invitation falls in line with the UAE’s initiatives during the Exceptional Meeting for the Council of Arab Ministers of Finance, which was held in Abu Dhabi in September 2011. These initiatives highlight the UAE’s ideas and proposals to support economic stability in the Arab region, to develop the Arab financial system and to fund trade. The UAE also calls to improve the work environment and create new jobs opportunities. Moreover, the UAE shed light on stabilizing prices of food products & Arab Food Security in addition to facilitating trade through the establishment of the Arab electronic clearing system.
HE Obaid Humaid Al Tayer, Minister of State for Financial Affairs, emphasized the importance of this meeting and its role in coordinating the mobilization of financial resources that support economic stability in the Arab countries. The meeting also helps in coordinating Arab countries’ standpoints toward International Financial Institutions.
Commenting on this meeting, the Minister pointed out that in spite of the situations and developments faced by some countries in the Arab region and their huge economic and social challenges; the expected support from the region is still less than what was hoped for. HE also called for more support that contributes to achieving macroeconomic stability in these countries. In addition, HE highlighted the importance of working on establishing the Fund under programs and initiatives that help develop appropriate policies to achieve overall growth in Arab countries.
The ceremony breakfast agenda will include a discussion of topics related to the International Monetary Fund and related proposals prior to HE Dr. Abdel Shakur Shaalan presents them at the Semi-Annual Spring Meetings of the International Monetary Fund and World Bank Group, which will be held in Washington between 20 and 22 April, 2012. the agenda will focus on coordinating the topics to be raised during the annual meetings to be held in Tokyo in October 2012.
In conclusion, this meeting will be an opportunity to present ideas, proposals and bilateral dialogues between Ministers of Finance of the group and representatives from international funding institutions. .