(MENAFN- Mid-East.Info) His Excellency Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, and Her Excellency Dr. Maha Barakat, Assistant Minister of Foreign Affairs for Health, led the UAE's delegation in the G20 Joint Health-Finance Ministers Meeting (JHFMM). The meeting discussed the progress made by the Joint Finance and Health Task Force (JFHTF) this year.
The JFHTF brings together finance and health authorities from G20 members and invited countries as well as representatives of relevant regional and international organizations, with the aim of enhancing dialogue and global cooperation on issues related to pandemic prevention, preparedness and response. The UAE participated in the three meetings that the Task Force held this year under the G20 Finance Track, with the aim of boosting dialogue and global collaboration.
During the meeting, the UAE delegation commended the progress made by JFHTF this year, and reiterated the need for the task force to build on its achievements to enable effective collaboration between health and finance. The UAE delegation also highlighted the importance of the pandemic risk and financing gaps analysis that the JFHTF developed, while reiterating the need capture country specific circumstances in further upcoming efforts.
During the meeting, members emphasized the importance of finance-health coordination in responding to health emergencies, and discussed potential avenues for strengthening these mechanisms. Members also reviewed the progress on the development of a framework for health, social, and economic vulnerabilities, and risks from pandemics. Lastly, members shared their views on the mapping exercise of existing pandemic response financing mechanisms and gaps that can inform the development of an effective, coordinated, and optimized pandemic response financing approach.
At the end of the meeting, participating ministers reiterated their commitment to the task force's priorities and agreed to continue to lead health and finance coordination efforts on pandemic prevention, preparedness, and response.
About the Ministry of Finance:
The Ministry of Finance of the United Arab Emirates was established as a sovereign ministry under Federal Decree No. (2) of 1971 to assume responsibility for implementing all financial policies related to economic development in the country, foremost of which is preparing and allocating the federal budget, managing the government's financial situation, and providing services to the government and business sectors, as well as individuals. His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister, serves as Minister of Finance, heading the UAE's economic and financial interests. His Excellency Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, aims to achieve the Ministry's strategic objectives.
The Ministry of Finance operates in accordance with a realistic yet ambitious strategic plan to perform its tasks and services in line with international best practices. The Ministry strives to achieve six key strategic goals, namely, enhancing financial planning in the Federal Government and the sustainability of public finances; raising the efficiency and effectiveness of budget execution, while managing the Federal Government's financial position and cash flows; overseeing the UAE's financial and economic interests at the international level; boosting the country's competitiveness in financial and economic fields; providing all administrative services in accordance with the highest standards of quality, efficiency, and transparency; and finally, promoting a culture of innovation in the corporate work environment.
The Ministry includes five main sectors: the government budget and revenue sector, tax legislation sector, government financial management sector, international financial relations sector, and support services sector. It also includes the Federal Debt Management Office, General Budget Committee, Government Financial Policy Coordination Council, and the Financial Restructuring Committee.