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03 June 2023

UAE, Poland discuss ways of enhancing financial and economic cooperation

Published
By WAM

Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, met with Magdalena Rzeczkowska, Minister of Finance of the Republic of Poland, and her accompanying delegation at the Ministry's headquarters in Abu Dhabi.

The meeting sought to discuss current economic developments and future prospects, as well as ways of enhancing financial and economic cooperation between the UAE and Poland.

Al Hussaini emphasised the significance of this meeting, which serves as a vital opportunity to further strengthen bilateral relations between the UAE and the Republic of Poland in the fields of economy, finance and investment, among others.

He said, “The UAE is keen to consolidate economic and financial ties and partnerships with the Republic of Poland and expand areas of cooperation to include key areas of common interest. Our cooperation will contribute to advancing our economies and consolidating our bilateral relations.”

The meeting included the signing ceremony of the UAE-Poland joint statement, which aims to consolidate cooperation between both countries and exchange knowledge, experiences and best practices in the field of tax policy.

These practices include digital reporting requirements, big data analysis, machine learning, means of supporting research and innovation, and in addition to deploying new technologies in the public sector such as artificial intelligence (AI).

The meeting also included a presentation on the UAE federal government bonds and a review of the investment landscape of the Republic of Poland.

The UAE is one of Poland's largest trading partners in the region, as the volume of non-oil intra-trade between both countries amounted to about AED3 billion during the first half of 2022, achieving a growth of 22%, compared to the same period in 2021.

Additionally, the volume of non-oil intra-trade between the two countries amounted to about AED5.3 billion during 2021, achieving a growth of 12% compared to 2020.

From the UAE Ministry of Finance, the meeting was attended by Younis Haji Al Khoori, Undersecretary of Ministry of Finance; Hamad Al Zaabi, Director of the Office of the Minister of State for Financial Affairs; Thuraya Al Hashemi, Director of the International Tax Department at the Ministry of Finance; and Joanna Declercq Zelechowska, Advisor at the Ministry of Finance.

The delegation accompanying the Polish Minister of Finance included PaweĊ‚ Siwek, Director of the International Cooperation Department at the Finance Ministry; Jacek Buda, Chargé d’affaires a.i. of the Republic of Poland; and Bartosz Andrzejewski, Senior Expert at the Polish Ministry of Finance.