العربية UAE Holds First Strategic Financial Dialogue with Poland 10 July 2024 The UAE, represented by the Ministry of Finance, has held the first Strategic Financial Dialogue with the Republic of Poland in Warsaw to strengthen bilateral cooperation in various financial and economic areas of mutual interest and discuss the latest developments in financial markets. During the event, both sides also explored new opportunities for collaboration in renewable energy and banking sectors. Led by H.E.Younis Haji Al Khoori, Undersecretary of Ministry of Finance, the Emirati delegation featured key figures including H.E. Ahmed Ibrahim Al Mansouri, Consul General of the UAE in the Republic of Poland; H.E. Dr. Maryam Buti, Alsuwaidi CEO of the Securities and Commodities Authority, and Ali Abdullah Sharafi, Acting Assistant Undersecretary for International Financial Relations at the Ministry of Finance. This is in addition to Abdulla Al Muhairi, Chief Banking Supervision Central Bank of the UAE; Khadija Ali, Chief Representative - Business Development Segments, DIFC, Saker Asllan, Chief Exchange Operations Officer, Abu Dhabi Securities Exchange, and Ahmed Al Awadi Masdar Director, Development and Investment (EMEA). From Poland, the delegation included H.E. Paweł Karbownik, Undersecretary of State, MoF; HE Robert Krzyśków Director, International Cooperation Department, MoF; along with senior officials from the Polish Financial Supervision Authority and Polish Banking Supervision Division. Financial Sustainability During the opening session, H.E. Younis Haji Al Khoori expressed gratitude to H.E. Pawel Karbownik for hosting the firs strategic financial dialogue between the UAE and Poland, praising the strong bilateral relations between the two friendly nations. He underscored the significance of such events not only in bolstering financial cooperation but also in expanding economic, trade, and development ties, particularly in crucial sectors. Al Khoori highlighted that the dialogue has provided an ideal platform for sharing the latest developments in financial markets, addressing pressing global priorities and challenges, and exploring innovative solutions. His Excellency pointed out that while the global economy shows strong resilience, it requires ongoing attention to the efforts and initiatives aiming to achieve financial sustainability, reducing inflation, and addressing climate change. He affirmed that the UAE has made substantial strides in diversifying its national economy, with the non-oil sector contributing approximately 75% to the GDP in 2023, and an expected overall growth rate of 6.2% by 2025. He also addressed several topics that promise opportunities for cooperation between the two countries, including the renewable energy sector and the sharing of UAE's expertise in treasury bonds program. He stressed that the UAE holds a prominent position as a global financial hub, thanks to numerous initiatives such as instant payment platforms, support for emerging fintech companies, and innovative financing options, as well as to the compliance of the country’s financial policies with international tax policies, which contributes to attracting foreign investments. Financial Technology His Excellency highlighted that the Ministry of Finance integrates technology and artificial intelligence solutions to enhance financial workflows, aligning with the UAE's Artificial Intelligence Strategy. He added that several initiatives for digital transformation have been launched, leveraging AI and metaverse technologies. Concluding his remarks, Al Khoori thanked the Polish counterpart at the Ministry of Finance for hosting the strategic financial dialogue with the UAE, commending all participants for their contributions and innovative ideas, which were pivotal to the success of the dialogue. He noted that the discussions touched on financial market policies, priorities, and shared financial interests, including renewable energy investments and cooperation in the banking sector, adding that efforts will continue to explore further collaboration opportunities in the future. Turning Point His Excellency emphasised that this dialogue marks another significant step towards evolving bilateral cooperation between Poland and the UAE, urging both nations to intensify their efforts to foster sustainable and prosperous economic growth. Al Khoori expressed his hope that the next strategic financial dialogue would be hosted in the UAE. The first strategic financial dialogue between the UAE and Poland featured a presentation by the Ministry of Finance of the UAE on their treasury bonds program and plans to enhance domestic public debt instruments. It also included a presentation by the Abu Dhabi Securities Exchange on the latest market developments and available investment opportunities, as well as a presentation by the Dubai International Financial Centre on its business environment and investment advantages for global companies. The sessions also covered discussions on a wide range of topics of mutual interest, including tax policies, financial technology, latest artificial intelligence tools, and financial markets.
