Thursday 22 October 2020 - 2:56:44 am

UAE, Swiss ministers discuss ways to strengthen financial partnerships


DUBAI, 8th October, 2020 (WAM) -- Obaid bin Humaid Al Tayer, Minister of State for Financial Affairs, met virtually with Ueli Maurer, Swiss Minister of Finance, to discuss ways to strengthen strategic relations and partnerships between the two countries.

Al Tayer praised the strong bilateral relations between the UAE and Switzerland, stressing the need to continue dialog between the two countries to strengthen cooperation frameworks and open new horizons for joint work in various economic, financial and trade fields.

He said, "The UAE and Switzerland are looking forward to strengthening their strategic relationship and benefiting from the G20 platform and the strong bilateral cooperation ties that connect the two friendly countries."

The meeting discussed several issues of mutual interest, most importantly the tax challenges arising from the digital economy within the OECD G20 project regarding axes 1 and 2 of international tax policies, and combating tax base erosion and profit shifting.

The ministers also reviewed the financial inclusion programme in relation to cross-border payments, remittances and digital currencies, and the two countries' experiences towards their participation in the G20 financial track for this year as guest countries from outside the G20.

The UAE will continue to participate in the G20’s Global Partnership for Financial Inclusion, GPFI, for the next three years as a non-G20 member.

Younis Haji Al Khoori, Undersecretary of the Ministry of Finance, Saeed Rashid Al Yateem, Assistant Under Secretary of Resource and Budget Sector at the Ministry of Finance, in addition to Daniela Stoffel, State Secretary for international affairs, Christoph Schelling, Head of the Tax Division of the State secretariat of international affairs, Alexandra Baumann, Diplomatic Advisor to the Minister also attended the meeting.

WAM/Esraa Ismail/Rasha Abubaker