The United Arab Emirates, represented by the Ministry of Finance and the Central Bank of the UAE, is participating in the third meeting of the G20 Finance Ministers and Central Bank Governors, hosted in Durban, South Africa, as part of its 2025 presidency. Delegates from member countries, invited nations, and international organizations are in attendance.
The UAE delegation is led by His Excellency Mohamed Al Hussaini, Minister of State for Financial Affairs. The delegation includes Younis Haji Al Khoori, Undersecretary of the Ministry of Finance, Ibrahim Al Zaabi, Assistant Governor for Monetary Policy and Financial Stability at the Central Bank, and Ali Abdullah Sharafi, Acting Undersecretary for International Financial Relations.
His Excellency Mohamed bin Hadi Al Hussaini stated that this meeting serves as a crucial platform for enhancing international coordination on global economic and financial challenges, while continuing collaborative efforts to achieve economic stability and support sustainable development. He emphasized that the UAE’s participation reflects its commitment to the G20’s global goals and its active role in shaping international economic and financial policies.
He pointed out the necessity of implementing effective policies aimed at ensuring macroeconomic stability through targeted financial support, improving institutional quality, and enhancing labor market efficiency. He reaffirmed the UAE’s dedication to strengthening the framework of the international financial system and its focus on assisting emerging markets and developing economies by mitigating risks to attract private investments through targeted financial support, enhancing local markets, executing structural reforms, and promoting international cooperation to foster financial stability.
He clarified that the UAE’s proactive fiscal policies are directed towards supporting sustainable development. He commended the progress made in international tax matters under the initiative to combat base erosion and profit shifting, underscoring the UAE’s support for developing sustainable tax policies that contribute to equitable economic growth, including its participation in the UN Framework on international tax cooperation.
He stressed the importance of encouraging private sector involvement in infrastructure projects and enhancing financial markets by widening access to affordable financing, as well as promoting governance and building institutional capacity as key areas to support growth and development in Africa. He highlighted that policy coherence, strengthening institutional capacities, and the availability of reliable climate data are essential to overcoming the challenges faced by sustainable financing, referencing the UAE’s pioneering experience in bridging insurance protection gaps through climate risk assessments, premium pricing models, and collaborative approaches among regulatory bodies.
The agenda of the meeting includes a review of the progress made in implementing the G20 priorities for 2025, defined by South Africa as the current presidency, along with the adoption of a final statement crafted with UAE contributions based on insights from the discussions and inputs from working group meetings.
Meetings of Finance Ministers’ Deputies
On the sidelines of the gathering of finance ministers and central bank governors, the UAE participated in the meetings of finance ministers’ deputies, held from July 14 to 16. Discussions focused on updates regarding multilateral development banks, pandemic response financing, economic growth pathways, and sustainable development in Africa, in addition to reviewing the draft final statement for the G20 meeting.
The United Arab Emirates is engaged in G20 activities for 2025, which will culminate in a leaders’ summit at the end of this year. This marks the UAE’s sixth participation in the G20 summit series, with previous roles as a guest in France in 2011, Saudi Arabia in 2020, Indonesia in 2022, India in 2023, and Brazil in 2024.