MoF Participates in Asian Financial Forum in Hong Kong

Press release
Published January 15th, 2020 - 09:12 GMT
MoF Participates in Asian Financial Forum in Hong Kong
During the event
Highlights
the Ministry of Finance (MoF) participated in the Asian Financial Forum, which was held from 13-14 January in Hong Kong.

In line with its commitment to strengthen the UAE’s global relationships and showcase the UAE model, the Ministry of Finance (MoF) participated in the Asian Financial Forum, which was held from 13-14 January in Hong Kong. The ministry participated in the forum to strengthen cooperation and knowledge sharing in the financial sector.

H.E. Younis Haji Al Khoori, Undersecretary of the Ministry of Finance, headed the ministry’s UAE delegation, which also included H.E. Majid Ali Omran, a consultant at the Ministry of Finance.

H.E. met with the Undersecretary of the Ministry of Finance in Hong Kong to discuss opportunities and financial challenges witnessed by the world and the region, as well as to find solutions for economic growth. He also emphasised the ministry’s keenness to participate in international forums and meetings, particularly the Asian Financial Forum.

Commenting on the participation, H.E. pointed out that the Asian Financial Forum is an important platform to assess vital global economic issues, as well as to deliberate the challenges to achieving sustainable social and economic development. The conference brings together experts and specialists from various sectors for discussions and knowledge sharing in order to reach a consensus on financial and investment systems to achieve economic sustainability and stability for countries around the world.

The Asian Financial Forum is considered one of the most important events in this sector globally, and witnesses participation from some of the most influential leaders from the global financial and business community discussing developments and trends in the Asian markets. 

As part of the forum, the ministry representatives attended several discussions, sessions and meetings that tackled the issue of sustainability. Additionally, they held meetings with various other officials participating in the forum.

Among the important sessions held during the Asian Financial Forum were the Plenary Session on “Redefining Growth: Innovation ∙ Breakthrough ∙ Inclusiveness”, a panel discussion on "Environmental, Social and Governance (ESG)", a session titled “Unleashing FinTech Innovations: Virtual Banking and Trade Finance”, and a panel on “Hong Kong’s Changing Role as an Investment Gateway: New Trend, New Generation and New Strategy”.

The Ministry of Finance has recently signed an agreement to encourage mutual investments between the UAE and Hong Kong. The value of the total foreign trade with Hong Kong in 2018 amounted to USD 9,765 million, of which USD 3,473 million were imports, USD 539.3 accounted for non-oil exports, and USD 5,753 million for re-exports.

Background Information

UAE Ministry of Finance

To be a global leader in the fiscal field and to contribute to achieving the UAE Vision.

To efficiently and proactively manage and develop the federal government financial resources through active fiscal policies, excellent abilities, and local and 
international relations in order to achieve development, sustainability, and integrity of the fiscal system in accordance with best practices. 

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