Ministry of Economy discusses cooperation in financial service & Blockchain technologies with specialized US companies

The Ministry of Economy discussed prospects for enhancing cooperation and developing working relations in financial services and blockchain technologies during a meeting with specialized American companies led by Perianne Boring, Founder and President of the Chamber of Digital Commerce. H.E. Juma Al Kait, Assistant Undersecretary for Foreign Trade Affairs, received the US trade delegation at the Ministry’s headquarters in Abu Dhabi.

The meeting was attended by Hind Al Youha, Director for the Investment Department; Dr. Matar Al Ali, Director of Industrial and Information Management Analysis, and other officials and employees of the Ministry. The American delegation included a group of leading US companies specializing in financial technology and Blockchain techniques as well as members of the American Digital Chamber of Commerce.

The group talked about cooperative possibilities available between the two sides and opportunities for establishing promising partnerships with companies from both countries specializing in financial service technologies. Participants agreed to take advantage of America’s vast experience to support the UAE's efforts to develop advanced technologies complementing its development objectives.

H.E. Al Kait reviewed the UAE's leading developments in various economic and trade fields, focusing on the country's desire to become a regional hub for many technology-oriented companies and establish specialized areas for technology services such as Dubai Internet City and other leading initiatives supporting the technical economy. He also touched on the country’s efforts to enhance the innovation and technology processes as well as the development of the financial markets and services sector.

He emphasized that American companies have extensive experience in this regard, pointing to the UAE’s interest in improving communications channels between the institutions and companies of both sides and developing programs for cooperation and exchange of effective expertise and establishing partnerships that serve the interests of both parties.

For her part, Al Youha gave a presentation on investment opportunities offered by the UAE economy. She reviewed the country’s progress in various global competitiveness indices.

Boring, on the other hand, expressed her interest in enhancing cooperation between US financial technology companies and financial institutions in the UAE.

She praised the UAE's achievements and its success in becoming a leading growth model in the Middle East. She added that the country’s strong capital market structure opens more areas of cooperation and opportunities for forging promising partnerships between US and UAE companies.