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MoF has established partnerships with regional and international ministries and entities to advance the UAE’s standing economically, to contribute towards sustainable development in the UAE and to enhance global competitiveness. Strategic partnerships include those formed as part of the GCC, Gulf Economic Integration and the Gulf Common Market, and those formulated to promote international investment in the UAE and collaborative initiatives with the world’s leading financial establishments.
The Ministry of Finance (MoF) is keen on building strategic international partnerships. The aim is to enhance the UAE’s financial, economic and commercial relations with international and regional organisations and funds, as well as various countries with thriving economies and knowledge-based expertise.
International Financial Relations and Organizations Department reports directly to the Assistant Under Secretary of the International Financial Relationship Sector. It is responsible for preparing MoF participation in the joint economic commissions, providing suggestions and mechanisms to promote international financial relations, and following-up the implementation of these recommendations. Additionally, it is responsible for preparing international memorandums of understanding with other countries to strengthen the financial position of the country.
The department is also responsible for strengthening financial and economic cooperation with regional and international countries, financial institutions, organisations and development funds, as well as coordinating with institutions regarding international aid programs. It also contributes to the gathering of information regarding donations and aid granted by the state in accordance with the relevant authorities to promote global financial competitiveness of the state.
MoF seeks to enhance the position of the UAE and its foreign partnerships through a number of initiatives. This includes effective contribution in regional and international financial organisations, institutions and funds such as IMF, World Bank, the OPEC development fund, Deauville International Partnership that aim to support economic reforms in Arab countries. Plus, IFAD fund for agricultural development and the Global Forum on Transparency and Exchange of Information.
The UAE is already home to the headquarters of a number of regional and international institutions that includes:
