UAE participates in First Framework Working Group meeting within the G20 Finance Track

UAE participates in First Framework Working Group meeting within the G20 Finance Track

The UAE participated in the first Framework Working Group (FWG) meeting within the G20 Finance Track, which was held on 16 and 17 December 2022. Held for the first time under India’s G20 presidency in Bengaluru, the meeting sought to discuss the work plan for FWG in 2023, which is focused on key global economic issues and the impacts of high food and energy prices and climate change. This is in addition to the group's objectives related to promoting global economic growth.

The UAE delegation to the meeting included representatives from the Ministry of Finance (MoF), namely Ali Abdullah Sharafi, Acting Assistant Undersecretary for International Financial Relations Sector at MoF; and Thuraya Hamed Al Hashemi, Director of the International Tax Department at MoF. The meeting was also attended by G20 members, invited countries and representatives from international organisations.

During the meeting, MoF team emphasised the importance of diversifying the sources of food production globally to enhance the sector's flexibility on a global scale. The team suggested coordinating the group's work with international organisations to study financing and operational needs to help developing countries enhance their agricultural production and identify their investment needs in this vital sector – particularly in the technical area