Obaid bin Humaid Al Tayer, US Federal Reserve Bank representatives discuss cooperation

DUBAI, 9th February, 2015 (WAM) — Obaid bin Humaid Al Tayer, Minister of State for Financial Affairs, today discussed with representatives of the US Federal Reserve Bank, ways to enhance bilateral economic ties and the latest financial, economic and international developments in the financial markets as well as the future vision of exchange rates and interest.

The parties discussed the international economic challenges which could affect the economic growth and the importance of adopting financial transparency principles.

They also tackled economic growth in aanced countries and the importance of the role given to countries with emerging economies and their great impact in support of the global economy in terms of growth levels as well as employment opportunities levels.

Al Tayer affirmed the importance of the strategy of diversifying income sources adopted by the UAE through the increase of investment projects and the number of tourists in various countries.

He also added that the country is focussing on developmental projects, sustainable investment and encouraging of business sectors which aimed to facilitate business activities, in addition to renewable and sustainable energy projects.

A number of officials attended the meeting.