The Ministry of Finance (MoF) organised a meeting on the Gulf economic and financial integration for students of the Faculty of Business Administration at the American University of Ras Al Khaimah (AURAK).
The event aimed at building ties with Emirati youth from local academic institutions in a bid to broaden their financial and economic literacy and provide an overview of the GCC’s economic performance.
MoF’s delegation included Ibrahim Hassan Al Jarwan, Head of Cooperation & Arab States Department and Dr Sahel Al Rousan, Economist at MoF. The meeting was also attended by Dr Ziad Assouli, Economic Advisor in RAK Chamber of Commerce and Industry along with a number of AURAK faculty staff.
The students were given an overview of the GCC economic performance as a regional trade bloc and highlighted the bloc’s key economic indicators on a global and regional level. Participants reviewed the GCC’s foreign trade structure and trends as well as a look on the demographic and human development indicators of Member States of a more advanced level. The meeting also covered a discussion on the structure of public expenditure and GCC consumer prices indices.
H.E Khalid Ali Al Bustani, Assistant Undersecretary of International Financial Relations Sector: “The aim of setting up such educational programmes is to familiarise the UAE community with the benefits of the GCC common market. The lecture gave students an insight into the importance of reviewing beneficiaries’ feedback and the possible obstacles which could be faced by the MoF Regional and International Financial Relations Department on a day-to-day level.”
HE added: “The Ministry seeks to support all economic and business students across the UAE as we recognise it’s one of the ways the local financial and economic sector can develop and stay innovative. We seek to introduce students with the different aspects of GCC economic integration and offer them an initial path to deal with the trade, business and investment environment.”
At the end of the meeting, Al Jarwan handed over an honorary award to Dr Anthony Ayola, Dean of AURAK School of Business and Management, to commend AURAK, its management and its students.