Arab undersecretaries of finance discuss ways to boost economy, handle policy concerns

The Undersecretaries of Arab Ministries of Finance met Jan. 13 and 14 in Abu Dhabi to discuss a number of issues facing economies in the Middle East.

Major topics included uniting Arab economies through financial policy, challenges facing regional and international markets and investment opportunities. Above all, the undersecretaries looked for opportunities to collaborate and support one another, in the hope of lifting the region's overall economy.

"The ministry continues its efforts to strengthen ties between the UAE and various countries across the world as well as regional and international financial institutions," Undersecretary of the Ministry of Finance Younis Al Khoori said. "In fact, MOF sets high priority towards enhancing relations with Arab countries and Arab financial organizations such as the Arab Monetary Fund. This is following its belief in the need to support economic and social development initiatives in addition to improving Arab countries' standards of living."

Also on the agenda was a discussion of a UAE initiative that aims to create jobs and lift living standards by implementing reforms, developing the finance industry, stabilizing raw material costs, developing export markets and financing international trade in Arab countries.

The undersecretaries wrapped up the gathering with some preliminary agenda planning, in advance of their upcoming meeting April 7 in Kuwait.

Event organizers said they hope to make the gathering an annual event.