The UAE Ministry of Finance said it has signed a MoU with the Abu Dhabi Fund for Development (ADFD) in line with its efforts to enhance joint co-operation and develop strategic partnerships.

The agreement aims at establishing the grounds for collaboration, and on promoting an environment that encourages external developmental contributions.

The agreement will also work on improving the exchange information regarding aid strategies provided by UAE institutions, as well as enhancing exchange of technical and technological expertise.

Younis Haji Al Khoori, undersecretary of ministry of finance, and Mohammed Saif Al Suwaidi, acting director general of ADFD, signed the agreement at MoF headquarters in Abu Dhabi.

The co-operation falls in line with the common strategic goals set by ministry and ADFD, which reflect the UAE economic policy and highlight its role in achieving sustainable development for the UAE and positioning it as a leading nation on a regional and global level.

The deal also aims at enhancing international financial relations with regional and global countries, institutions, organizations, and development funds in efforts to improve performance and financial systems used.

Al Khoori said the agreement exemplifies the co-operation spirit between the local and federal authorities aiming at enhancing exchange of capabilities and experiences in areas of common interest.

"Furthermore, the MoU falls in line with finance ministry’s strategy of co-operating with local and federal authorities, in addition to supporting and developing private projects and investments to achieve MoF’s strategy of implementing a sustainable and balanced development for the UAE," he added.

Mohammad Saif Al Suwaidi said this MoU acts as an important step in enhancing partnership between both parties to encourage the exchange of expertise, data and statistics pertaining to foreign aid.

The collaboration also aims at highlighting the policies of the UAE concerning the support of developing countries to aid them in achieving socio-economic development, he added.-TradeArabia News Service