Finance & Capital Market

MoF participates in Asian Financial Forum in Hong Kong

In line with its commitment to strengthen the UAE’s global relationships and showcase the UAE model, the Ministry of Finance (MoF) participated in the Asian Financial Forum, which was held from January 13 to 14 in Hong Kong. 
 
The ministry participated in the forum to strengthen cooperation and knowledge sharing in the financial sector.
 
Younis Haji Al Khoori, Undersecretary of the Ministry of Finance, headed the ministry’s UAE delegation, which also included Majid Ali Omran, a consultant at the Ministry of Finance.
 
He met the Undersecretary of the Ministry of Finance in Hong Kong to discuss opportunities and financial challenges witnessed by the world and the region, as well as to find solutions for economic growth. He also emphasised the ministry’s keenness to participate in international forums and meetings, particularly the Asian Financial Forum.
 
Commenting on the participation, he pointed out that the Asian Financial Forum is an important platform to assess vital global economic issues, as well as to deliberate the challenges to achieving sustainable social and economic development. The conference brings together experts and specialists from various sectors for discussions and knowledge sharing in order to reach a consensus on financial and investment systems to achieve economic sustainability and stability for countries around the world.
 
The Asian Financial Forum is considered one of the most important events in this sector globally, and witnesses participation from some of the most influential leaders from the global financial and business community discussing developments and trends in the Asian markets. 
 
As part of the forum, the ministry representatives attended several discussions, sessions and meetings that tackled the issue of sustainability. Additionally, they held meetings with various other officials participating in the forum.
 
Among the important sessions held during the Asian Financial Forum were the Plenary Session on “Redefining Growth: Innovation ∙ Breakthrough ∙ Inclusiveness”, a panel discussion on ”Environmental, Social and Governance (ESG)” a session titled “Unleashing FinTech Innovations: Virtual Banking and Trade Finance”, and a panel on “Hong Kong’s Changing Role as an Investment Gateway: New Trend, New Generation and New Strategy”.
 
The Ministry of Finance has recently signed an agreement to encourage mutual investments between the UAE and Hong Kong. The value of the total foreign trade with Hong Kong in 2018 amounted to $9.765 billion, of which $3.473 billion were imports, $539.3 million accounted for non-oil exports, and $5.753 billion for re-exports.-- Tradearabia News Service