During the two-day event, finance ministers and central bank governors from G20 member countries deliberated on pressing economic issues, including inflation, fiscal policies, and sustainable development. The UAE delegation, led by Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, and Khaled Mohamed Balama, Governor of the CBUAE, contributed insights on various topics, emphasizing the UAE’s commitment to fostering global economic stability and growth.
Key discussions centered on the global economic outlook, with particular attention to inflationary pressures and their impact on economic recovery. The UAE representatives highlighted the importance of coordinated fiscal and monetary policies to mitigate inflation risks and support sustainable growth. They stressed the need for innovative solutions to address economic disparities and promote inclusive development.
A significant agenda item was the advancement of digital financial inclusion. The UAE delegation underscored the potential of digital transformation in enhancing financial services and increasing access to finance, particularly in developing economies. They shared the UAE’s experience in implementing digital initiatives to improve financial literacy and inclusion, which could serve as a model for other nations.
Climate change and sustainable finance were also high on the agenda. The UAE’s representatives advocated for stronger international cooperation to finance climate initiatives and transition to a green economy. They presented the UAE’s strategies for promoting renewable energy and reducing carbon emissions, reinforcing the country’s role as a leader in sustainable development.
The G20 FMCBG meeting also addressed global tax policies, with a focus on ensuring a fair and efficient international tax system. The UAE supported efforts to enhance tax transparency and combat tax evasion, aligning with global standards and practices. The delegation emphasized the significance of international collaboration in addressing tax challenges and fostering economic fairness.
Mohamed bin Hadi Al Hussaini, in his address, highlighted the UAE’s economic resilience and its proactive measures to safeguard financial stability amidst global uncertainties. He reiterated the UAE’s commitment to contributing to global economic governance and supporting multilateral efforts to address shared challenges.
The UAE’s participation in the G20 FMCBG meeting reflects its strategic role in the global economic landscape and its dedication to international cooperation. The insights and contributions from the UAE delegation were well-received, showcasing the country’s proactive approach to addressing global economic issues and its readiness to collaborate with other nations for a sustainable and inclusive future.
The meeting concluded with a consensus on the need for continued dialogue and cooperation among G20 members to navigate economic uncertainties and promote global financial stability. The UAE’s active involvement in these discussions underscores its commitment to playing a pivotal role in shaping the global economic agenda and fostering international partnerships for shared prosperity.
As the world faces complex economic challenges, the UAE’s participation in such high-level forums highlights its dedication to being at the forefront of global economic policy-making and its efforts to contribute positively to the international community.