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Strategic regional and global partners

Forging new alliances for the future of the UAE

The Ministry of Finance (MoF) is keen to build strategic international and regional partnerships. The aim is to enhance the UAE's financial, economic and commercial relations with international and regional organisations and funds, as well as various countries with thriving economies and knowledge-based expertise.

The International Financial Relations and Organisations Department reports directly to the Assistant Under Secretary of the International Financial Relationship Sector. It is responsible for preparing MoF’s participation in the joint economic commissions, providing suggestions and mechanisms to promote international financial relations, and follow-up on the implementation of these recommendations. Additionally, it is responsible for preparing international Memoranda of Understanding with other countries to strengthen the financial position of the country.

The department is also responsible for strengthening financial and economic cooperation with regional and international countries, financial institutions, organisations and development funds, as well as coordinating with institutions regarding international aid programmes. It also contributes to the gathering of information regarding donations and aid granted by the state in accordance with the relevant authorities to promote global financial competitiveness.

Partnerships aims

  • Create an investment climate and eliminate all obstacles that may negatively affect the economic and investment activity of both government and private sectors in the UAE

  • Promote the UAE as a prime destination for investors to make various investments

  • Leverage technical services provided by regional and international organisations and institutions

  • Apply international standards of competitiveness, transparency and exchanging tax information

  • Promote and ensure free movement of capital between countries

  • Protect investments from risks such as nationalisation and confiscation

  • Open new markets for intraregional trade

  • Promote imports, exports and free trade

  • Avoid double taxation between the UAE and other countries

MoF seeks to enhance the position of the UAE and its foreign partnerships through a number of initiatives. These include effective contributions in regional and international financial organisations, institutions and funds such as the IMF, World Bank, the OPEC development fund, and the Deauville International Partnership; all of which aim to support economic reforms in Arab countries. Other important partners include the IFAD fund for agricultural development and the Global Forum on Transparency and Exchange of Information.

The UAE is already home to the headquarters of a number of regional and international institutions; these include:

  • Office of Bank for Reconstruction and Development (IBRD)

  • The International Finance Corporation (IFC)

  • International Centre for Biosaline Agriculture (ICBA)

  • International Islamic Centre for Reconciliation and Arbitration (IICRA)

  • The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC)

  • Arab Monetary Fund (AMF)

  • Regional Office of Arab Authority for Agricultural Investment And Development (AAAID)

  • The Organisation for Economic Co-operation and Development (OECD) / Regional Centre for MENA region

  • Branch of International Islamic Trade Finance Corporation (ITFC) of the Islamic Development Bank Group

  • The OPEC Fund for International Development (OFID)

  • The International Fund for Agricultural Development (IFAD)

  • The Global Forum on Transparency and Exchange of Information

MoF considers annual spring meetings of the World Bank Group and IMF a real opportunity to publicise the financial and economic sector at both government and private levels in the UAE. The strong relations between the UAE, represented by MoF and IMF - in line with Article IV of the IMF’s Articles of Agreement - has led to the development of government financial policies. It also promotes and strengthens the UAE’s network of financial and economic relations with various countries, and regional and international financial institutions.

World Bank Group
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Arab Financial Institutions
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Islamic Development Bank Group
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OPEC Fund for International Development
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International Fund for Agricultural Development
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Page last updated : 25/04/2018 9:00 AM