ABU DHABI, 8th October 2016 (WAM) – Obaid Humaid Al Tayer, Minister of State for Financial Affairs and his delegation, met with Pierre Gramegna, Luxembourg Finance Minister as part of a series of bilateral talks held in Washington, alongside the 34th annual meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG).

Al Tayer and Gramegna discussed mutual relations and cooperation in the field of Islamic economy. The two parties also talked over topics to be discussed in the joint commission meeting.

During the meeting, Al Tayer invited the Luxembourg Minister of Finance to attend the World Government Summit which be held February 12-14, 2017.

Al Tayer highlighted that the Ministry of Finance (MoF) seeks to strengthen the UAE network of relations with various countries across the globe as well as with regional and international financial institutions, by opening channels of communication and dialogue to support and activate investment opportunities.

Al Tayer added: “The Ministry is committed to supporting the government’s strategic vision to promote the UAE’s status as a global investment destination, and attract foreign capital to the country. This is through establishing a network of international agreements and relations to protect and promote investment across the world.”

Khalid Ali Al Bustani, Assistant Undersecretary for International Financial Relations at MoF and his delegation met with Dimitris Tsitsiragos, IFC – International Finance Corporation, Vice President, Eastern and Southern Europe, Central Asia and Middle East and North Africa, to discuss the activities and role of the International Finance Corporation (IFC) as well as the UAE’s upcoming projects and asset transfer projects.

Al Bustani also met with Ximena Cadena Ordonez, Colombia Deputy Minister of Finance to discuss mutual relations between the two countries.

The 34th annual meetings of the International Monetary Fund (IMF) and World Bank Group (WBG) cover a number of topics including the mechanisms for drafting the global agenda to support sustainable economic and community development, approved plans to eliminate poverty and achieve common prosperity, ways to improve infrastructure in developing countries, public finance policy, ways to manage debt in a volatile global economic environment to enhance business participation, ways to stimulate private sector financing, variables affecting the global economic and political environment, as well as methods to face these challenges and prevent violent conflict.