Wed 15-01-2020 12:44 PM
HONK KONG, 15th January, 2020 (WAM) -- The Ministry of Finance, MoF, participated in the Asian Financial Forum, which concluded yesterday in Hong Kong. In line with its commitment to strengthen the UAE’s global relationships and showcase the UAE model, 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 delegation to the Forum where he met with the Undersecretary of the Ministry of Finance in Hong Kong to discuss opportunities and financial challenges witnessed by the world and the region.
Commenting on the ministry's 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.
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", 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 US$9,765 million, of which US$3,473 million were imports, US$539.3 accounted for non-oil exports, and US$5,753 million for re-exports.