العربية UAE Holds Sixth Strategic Financial Dialogue with Switzerland 19 September 2024 The UAE, represented by the Ministry of Finance, held the 6th Financial Dialogue with the Federal Department of Finance of the Swiss Confederation in Abu Dhabi today. The dialogue aimed to discuss ways to strengthen bilateral cooperation in various financial and economic fields of mutual interest, including macroeconomic and sectoral developments, international taxation, and the latest trends in financial sectors, particularly in digital finance. Additionally, the discussions touched on enhancing collaboration between government entities and the private sector. The dialogue was attended by His Excellency Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, and Her Excellency Daniela Stoffel Delbrück, State Secretary for International Finance at the Federal Department of Finance (FDF); with both sides signing the joint statement for the UAE-Swiss Strategic Financial Dialogue. Arthur Mattli, Ambassador of Switzerland to the UAE; Gregorio Bernasconi, Diplomatic Advisor to the Minister of Finance; Roman Studer, CEO of the Swiss Bankers Association; and several representatives from the Swiss business community. From the UAE side, the meeting was attended by H.E Younis Haji Al Khoori, Undersecretary of the Ministry of Finance; H.E Dr. Hissa Abdulla Al Otaiba Ambassador of the United Arab Emirates to the Swiss Confederation and the Principality of Liechtenstein; H.E. Dr. Maryam Butti Al Suwaidi, CEO of the Securities and Commodities Authority(SCA); Arif Amiri, CEO of the Dubai International Financial Centre Authority; Emmanuel Givanakis, CEO of the Financial Services Regulatory Authority (FSRA) at Abu Dhabi Global Market (ADGM); and Ali Abdullah Sharafi, Assistant Undersecretary of the International Financial Relationship Sector at the MoF. On the Swiss side, the meeting was attended by H.E Arthur Mattli, Ambassador of Switzerland to the UAE; Gregorio Bernasconi, Diplomatic Advisor to the Minister of Finance; Roman Studer, CEO of the Swiss Bankers Association; and several representatives from the Swiss business community. Constructive Partnerships In his remarks during the meeting, Al Hussaini warmly welcomed H.E. Daniela Stoffel Delbrück, State Secretary for International Finance at the Federal Department of Finance (FDF), and her accompanying delegation. He emphasised that the sixth financial dialogue between the UAE and Switzerland reaffirms the strong bilateral relations, founded on the values of cooperation and constructive partnership across various financial and economic sectors. "Over the years, this dialogue has proven to be a strategic platform for robust bilateral collaboration, enabling us to explore new avenues to strengthen our partnership and promote it to new levels of growth and prosperity. Amid the rapid developments in the global economy, it is essential to enhance communication and coordination between governments and financial institutions to achieve sustainable economic growth. It goes without saying that such dialogues play a vital role in supporting this objective by fostering innovation and advancing key sectors, such as digital finance and virtual asset regulation," Al Hussaini said. "The UAE and Switzerland share common goals in many areas, particularly in financial sustainability and innovation. Today's dialogue highlights the pivotal role that nations play in advancing global efforts to achieve sustainable growth, offering an important opportunity to support the global sustainability agenda. The dialogue also provides a valuable platform to strengthen collaboration between government entities and the private sector, which is essential for creating an innovative financial environment that fosters sustainable development." Concluding his speech, His Excellency expressed his sincere thanks and appreciation to all participants for their valuable contributions to this constructive dialogue and the innovative ideas presented, which will push the financial sector toward new horizons and further support comprehensive and sustainable development in both countries. Al Hussaini emphasised that the respective teams will continue to explore new ways to enhance bilateral cooperation in the near future. Her Excellency Daniela Stoffel Delbrück, highlighted the significance of the UAE-Switzerland Strategic Financial Dialogue, describing it as a key platform for strengthening the financial and economic partnership between the two nations. She remarked, "The dialogue has been highly successful, fostering greater cooperation and building stronger ties between financial institutions in both countries. We look forward to continuing this collaboration to support growth opportunities within the financial sector." Panel Discussions The sixth financial dialogue between the UAE and Switzerland addressed key economic and financial developments at both international and regional levels. The discussions covered topics related to the G20, the Financial Stability Board, the International Monetary Fund, and the macroeconomic outlooks of both nations. Participants also exchanged views over recent tax-related developments, exchanged views on international taxation, and discussed regulatory policy advancements, particularly concerning digital finance, virtual asset regulation, AML/CFT developments, and cooperation in financial markets. At the end of the meeting, both sides emphasised the importance of strengthening bilateral and international collaboration to contribute to global economic growth and improving the international financial system. The Ministry of Finance and the Federal Department of Finance reaffirmed their commitment to bolstering bilateral relations by maintaining financial dialogue as a strategic platform to foster cooperation, stimulate economic growth, and support financial stability and innovation in both countries.
