His Excellency Mohammad bin Hadi Al Hussaini, Minister of State for Financial Affairs, engaged in a series of bilateral meetings while leading the UAE delegation at the annual meetings of the World Bank Group and the International Monetary Fund in Washington, D.C. These discussions involved finance ministers and international officials from various countries, including the United States, France, the United Kingdom, Canada, Argentina, Switzerland, and Norway.
During a meeting with U.S. Treasury Secretary Scott P. O’Brien, Al Hussaini discussed strategic cooperation between the two nations in financial and economic sectors, with the presence of His Excellency Khaled Mohamed Balama, Governor of the Central Bank of the UAE. Al Hussaini praised the U.S. for leading the financial agenda for the G20 this year and expressed gratitude for the invitation extended to the UAE to participate as a guest country in the financial track of the group. He noted that this invitation reflects the deep partnership and international recognition of the UAE’s rising financial and economic role, emphasizing that the meeting presented a significant opportunity to align perspectives on current financial issues and explore innovative solutions to support regional financial stability.
In a discussion with Bruno Le Maire, Minister of Economy, Finance and Recovery of France, both parties reaffirmed the strong financial partnership between their countries, supported by a solid foundation of governing agreements. They explored ways to enhance cooperation and share expertise in financial areas.
Al Hussaini met with Rachel Reeves, U.K. Treasury Minister, where they addressed methods to strengthen financial collaboration and reviewed the strategic partnership between the two nations in mutually relevant financial matters. They emphasized the importance of ongoing bilateral coordination and the exchange of insights on international financial issues to serve shared interests and further solidify the close ties between the UAE and the U.K.
Moreover, he engaged in talks with François-Philippe Champagne, Canadian Minister of Finance and Associate Minister of Finance, regarding shared financial collaboration. They underscored the importance of integrating efforts to develop frameworks that serve mutual interests and emphasized the need to enhance bilateral channels to promote financial sustainability and broaden opportunities contributing to continuous economic prosperity for both nations.
Al Hussaini also met with Luis Caputo, Argentina’s Minister of Economy, where they commended the positive momentum in bilateral relations, especially following the entry into force of the Investment Promotion and Protection Agreement in November 2024, which is crucial for establishing a secure and sustainable investment environment. The meeting focused on expanding financial and economic cooperation and highlighted the essential role of the existing double taxation agreement in establishing clear tax frameworks and safeguarding investment flows, thereby fostering joint economic growth and opening new channels for partnership between the business communities of both countries.
Additionally, Al Hussaini conferred with Daniela Stöhl, Swiss State Secretary for International Financial Affairs, who acknowledged the strength and stature of the financial relationship between the two nations, grounded in mutual trust and integrated financial systems. They affirmed their commitment to advancing the agenda of bilateral financial cooperation and enhancing regulatory coordination and institutional connectivity.
During a session with Jens Stoltenberg, Norwegian Minister of Finance, Al Hussaini discussed ways to improve the shared legal and institutional framework, which would facilitate new opportunities for financial partnership and create a supportive business environment in both countries. Both parties expressed their eagerness to broaden cooperation and exchange expertise in relevant financial fields, thereby strengthening the bilateral ties between the UAE and Norway. These meetings reflect the leading role of the UAE in reinforcing strategic links among various global financial and economic hubs, as the UAE delegation aims to formulate innovative cooperation frameworks through these intensive discussions to contribute to global financial stability.