H.e. Obaid Al Tayer Virtually Meets Italian Minister for Economic Affairs and Finance

As part of the Ministry of Finance (MOF)’s endeavor to enhance cooperation with EU countries, H.E. Obaid Humaid Al Tayer, Minister of State for Financial Affairs, held a virtual meeting yesterday with H.E. Roberto Gualtieri, Italian Minister for Economic Affairs and Finance. The meeting discussed areas of cooperation in financial affairs, trade and investment, and the UAE’s participation in the Global Partnership for Financial Inclusion (GPFI) programme within the G20 financial track, during the G20 2021 Italian Presidency.

H.E. Obaid Humaid Al Tayer reaffirmed the UAE’s keenness to cooperate with the Italian Presidency to enhance financial inclusion and encourage SMEs that need more access to financing opportunities. H.E. noted that the UAE and Italy are looking forward to further cooperate in various fields of mutual interest, and to benefit from the G20 platform and strong bilateral ties.

H.E. said: “We sincerely thank Italy for its continuous support and cooperation, specifically for the opportunity for the UAE to take part in the G20 GPFI programme for the next three years as a non-G20 member.”

The meeting also deliberated the importance of providing fast, safe and affordable ways for cross-border payments, including remittances, in the COVID-19 aftermath, seeking new partnerships in cross-border investments, as well as innovative ways of providing humanitarian relief for countries with high migration flows. The Italian Minister of Finance also stressed the importance of strengthening economic ties between the two countries and continuing international cooperation to overcome the pandemic.

The UAE’s participation in the G20 meetings for 2020 came in response to the invitation it received from Saudi Arabia, which chairs the G20 until the end of November 2020, leading to the G20 Leaders’ Summit in Riyadh on 21-22 November 2020.