Saudi-Emirati discussions to raise levels of financial and investment cooperation

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Saudi and Emirati officials discussed joint files in the financial and investment sector, as part of the follow-up to the work of the strategic initiatives adopted in a number of main axes, which include the areas of services and financial markets, support for entrepreneurship, the customs union, the common market, tourism and national heritage, and the mechanisms for their implementation according to plans. approved.

The discussion, in which representatives of the Ministry of Finance in the two countries participated, included the most important initiatives of the Finance and Investment Committee, including the initiative to facilitate the flow of movement in the ports, strengthening the strategic partnership between Saudi Arabia and the UAE in the common market, issuing and using a virtual electronic currency on an experimental basis, and developing a mechanism to enable the branches of banks of the two countries to Strengthening its business, as well as coordinating the work of modern financial technology and exchanging experiences.

These discussions came within the first meeting of the Finance and Investment Committee of the Saudi-Emirati Coordination Council, which was held via visual communication techniques, where the meeting was chaired by Dr. Finance.

Younis Al Khouri stressed, according to what was reported by the Emirates News Agency “WAM” yesterday, the importance of this meeting as an effective platform that enables the UAE and Saudi Arabia to discuss and develop proactive plans for various challenges that may affect projects and operations related to the issue of joint economic and commercial cooperation.

He said: “The UAE is keen to strengthen the frameworks of joint cooperation with Saudi Arabia by implementing joint strategic projects in all economic and investment fields to create a better and more prosperous future for future generations and the peoples of the two countries. The meeting discussed pivotal economic trends such as issuing and using a virtual electronic currency on an experimental basis, and facilitating customs procedures for cross-border trade and exchange of goods.

These meetings come within the framework of implementing the directives of the leadership in the two countries, following up on the progress of the initiatives and projects and ensuring their implementation in accordance with the approved plans, developing solutions to the challenges that may face and obstructing the progress of projects, and submitting periodic reports “every 3 months” to the Executive Committee on the progress of the initiatives and projects that The Finance and Investment Committee is working on its implementation.

It is noteworthy that the finance ministries of the two countries are working to implement the decisions of the Saudi-Emirati Coordination Council and the Executive Committee related to money and investment, by strengthening the relationship between the two countries and achieving the aspirations and objectives of the Saudi-Emirati Coordination Council, to activate and achieve the common vision and intensify bilateral cooperation in issues of common interest to create a better future. citizens of the two countries.








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