Egyptian Minister of Finance Mohamed Maeet expressed his anticipation for an increase in intra-Arab trade volume to deepen cooperation paths and avoid the intensity of internal and external shocks.
This came during a meeting between the minister and Director-General and Chairman of the Arab Monetary Fund Fahad bin Mohammed Al-Turki on Tuesday to discuss preparations for the 15th session of the Arab finance ministers’ meetings in the administrative capital of Egypt in May next, and ways to enhance mutual cooperation, especially in light of current global challenges, for exchanging experiences and expertise, particularly regarding financial policy challenges, to help achieve development targets, on the sidelines of their participation in the World Government Summit in Dubai.
The two sides reviewed economic developments in the Arab region, in connection with the effects of successive crises including regional geopolitical tensions, in addition to the Fund’s general policies in the upcoming period, its activities, and the challenges it faces at the current stage and ways to deal with them.
According to a statement from the Ministry of Finance on Tuesday, Maait expressed his gratitude to the Director-General of the Arab Monetary Fund for the support provided by the Fund to Egypt, noting the developmental progress in Egypt and highlighting the successes achieved, whether in terms of economic reforms or the development of state infrastructure across various sectors, which provide promising investment opportunities in Egypt.
He added, “Like other countries, we face challenges related to successive global crises, but we adopt balanced strategies, policies, and measures to contain these internal and external shocks.”
On his part, Al-Turki, affirmed the Fund’s readiness to provide technical expertise, train personnel, and enhance human capacities in a way that contributes to strengthening bilateral cooperation.
He said, “We are working to provide advice and support to our partners to enhance more efficient financial policies in addressing current challenges,” pointing out that enhancing flexibility at the present time is very important to encourage financial stability.
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