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Sunday, September 04, 2011
Arab Finance Ministers To Hold Exceptional Meeting This Week
Dubai, Arab finance ministers will gather for an "exceptional meeting" in the United Arab Emirates Sept. 7 to discuss global economic developments and political changes across the Arab world, and their implications on regional economies, the U.A.E.'s finance ministry said Sunday.
The Council of Arab Ministers of Finance meeting, to be held in the U.A.E.'s capital Abu Dhabi, will discuss the agenda for reform of the global economic and financial system, issues pertaining to the Arab world, and Abu Dhabi's initiative for restructuring Arab economies and strengthening inter-Arab economic relations among other issues such as food security, the finance ministry said in an emailed statement.
"The U.A.E. will be hosting the exceptional meeting...where it will present its initiative and clarify a new plan for joint Arab investments in addition to discussing a number of specific economic and social projects in partnership with regional and global partners and entities in addition to donor countries," Obaid Humaid Al Tayer, U.A.E. minister of state for financial affairs, said.
The meeting will take place at a time of sweeping political changes in parts of the Middle East and North Africa region, which has led to the toppling of the regimes in Tunisia, Egypt and--more recently--Libya, and ongoing violent conflict in countries such as Syria and Yemen. It also comes amid warnings that the global economy is heading into a new recession and concerns over lingering European sovereign-debt issues.
Arab finance ministers are also expected to discuss mechanisms to coordinate tax policies between Arab states with the aim of strengthening regional integration, according to the statement. In addition to the ministers, a number of senior officials from regional and international financial institutions are also due to attend the meeting, the statement said.
Sunday, September 04, 2011
Arab Finance Ministers To Hold Exceptional Meeting This Week
Dubai, Arab finance ministers will gather for an "exceptional meeting" in the United Arab Emirates Sept. 7 to discuss global economic developments and political changes across the Arab world, and their implications on regional economies, the U.A.E.'s finance ministry said Sunday.
The Council of Arab Ministers of Finance meeting, to be held in the U.A.E.'s capital Abu Dhabi, will discuss the agenda for reform of the global economic and financial system, issues pertaining to the Arab world, and Abu Dhabi's initiative for restructuring Arab economies and strengthening inter-Arab economic relations among other issues such as food security, the finance ministry said in an emailed statement.
"The U.A.E. will be hosting the exceptional meeting...where it will present its initiative and clarify a new plan for joint Arab investments in addition to discussing a number of specific economic and social projects in partnership with regional and global partners and entities in addition to donor countries," Obaid Humaid Al Tayer, U.A.E. minister of state for financial affairs, said.
The meeting will take place at a time of sweeping political changes in parts of the Middle East and North Africa region, which has led to the toppling of the regimes in Tunisia, Egypt and--more recently--Libya, and ongoing violent conflict in countries such as Syria and Yemen. It also comes amid warnings that the global economy is heading into a new recession and concerns over lingering European sovereign-debt issues.
Arab finance ministers are also expected to discuss mechanisms to coordinate tax policies between Arab states with the aim of strengthening regional integration, according to the statement. In addition to the ministers, a number of senior officials from regional and international financial institutions are also due to attend the meeting, the statement said.