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Business meeting between Luxembourg Finance Minister & UAE Economy Minister

Published Saturday November 14 2015

*HE Sultan Bin Saeed Al Mansouri & HE Pierre Gramegna

*HE Sultan Bin Saeed Al Mansouri & HE Pierre Gramengna

Pierre Gramegna, Minister of Finance, had a meeting this 12 November 2015 in Brussels with HE Sultan Bin Saeed Al Mansouri, Minister of Economy of the UAE.

The meeting was a follow-up to a mission to the United Arab Emirates, presided by HRH Crown Prince Guillaume and headed by Minister Pierre Gramegna in March 2015, and to the participation of Prime Minister Xavier Bettel in the World Islamic Economic Forum in Dubai in October 2014.

Pierre Gramegna and Sultan Bin Saeed Al Mansouri discussed bilateral relations between Luxembourg and the United Arab Emirates, as well as the economic and political situation in Europe and the Middle East. Particular reference was made to the refugee crisis and its financial implications.

The interlocutors also provided an update on developments in taxation and transparency at international level, in the spirit of a level playing field.

The ministers explored the scopes for closer cooperation between the two countries in the economic, financial, and research areas. Some of these will be worked out at the next meeting of the Cooperation Council on Islamic finance which will be held in Luxembourg in March 2016. During their meeting the ministers have raised the possibility to expand the mandate of the Council into a privileged instrument of partnership between the two countries.

Pierre Gramegna is in Brussels for negotiations on the European budget which have entered the phase of the Conciliation Committee between the Council, Parliament and Commission.