Obaid Humaid Al Tayer, Minister of State for Financial Affairs with Steven Mnuchin, US Treasury Secretary. Image Credit: WAM

ABU DHABI: As part of the Ministry of Finance’s efforts to strengthen relations and develop financial and economic cooperation frameworks with other countries, Obaid Humaid Al Tayer, Minister of State for Financial Affairs, recently met with Steven Mnuchin, US Treasury Secretary, in Abu Dhabi.

Mubarak Rashed Al Mansoori, Governor of the Central Bank of the UAE, and a number of officials from both the Ministry of Finance and the US Treasury attended the meeting held at the St. Regis Corniche Hotel, which discussed economic, financial and commercial cooperation and ways to strengthen and activate them in the future, in a way that is mutually beneficial for both sides.

Al Tayer reiterated the strong strategic relations that the UAE and the United States enjoy, especially in light of the growth in bilateral relations in various economic sectors. “The Ministry of Finance is keen to exchange experiences and joint coordination with the United States in various areas of common interest, in order to discuss and identify potential opportunities, and economic, trade and investment projects in the two countries that would promote sustainable economic growth between them,” he said.

The meeting reviewed the rapid growth witnessed by the various economic and financial sectors in the UAE along with its promising potential for growth, and the latest developments related to the local, regional and global financial and monetary markets. They also discussed efforts to improve the investment environment between the two countries, and highlighted the UAE’s leading legislative and legal structure that has been adopted in accordance with the best international standards and practices, which plays a pivotal role in promoting sustainable economic and social development at the international level.

Obaid Al Tayer had previously met with Steven Mnuchin on the occasion of IMF and World Bank annual meetings, which recently took place in Washington from October 14 to 20.