2018 trip to Saudi Arabia and United Arab Emirates

From 17 to 20 February 2018, Federal Councillor Ueli Maurer together with the Swiss financial sector paid a working visit to Saudi Arabia and the United Arab Emirates. Mr Maurer was accompanied by the State Secretary for International Financial Matters Jörg Gasser. This second trip with representatives of the Swiss financial sector in the context of financial market policy focussed on talks on cooperation in financial and tax matters.

Karte_SA-VAE_Final-dRiadAbu DhabiDubai

The Head of the Federal Department of Finance (FDF) met his counterparts in Riyadh and Abu Dhabi. Other meetings took place with representatives of the supervisory authorities and central banks, as well as private-sector players. These talks dealt with enhancing dialogue and cooperation in financial and tax matters with two important partner states of Switzerland in the Gulf region and bilateral and multilateral concerns regarding financial matters and concrete cooperation. Here in particular, the optimum framework for investments and financial services were broached, as were Swiss financial institutions' roles and opportunities locally and the implementation of global standards in financial matters.

On 18 February 2018 in Riyadh, Federal Councillor Ueli Maurer signed a double taxation agreement with Saudi Arabia. The visit to Saudi Arabia also made it possible to pave the way for financial dialogue between the two states. In the United Arab Emirates, the visit likewise served to intensify bilateral cooperation in financial and tax matters.

The exchange with state and private-sector players in both states took place in the context of Switzerland's financial market policy for a competitive Swiss financial centre. Both states are important target markets for Swiss financial service providers outside Europe. Swiss financial institutions have a strong presence in these markets. To improve the framework conditions, it is desirable to achieve a public image that is as consistent and effective as possible together with the sector. The delegation consisted of about a dozen Swiss financial institutions which are active in these markets.

A trip with three stages

Riyadh: 17-19 february 2018

Abu Dhabi: 19 february 2018

Dubai: 19-20 february 2018

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Last modification 20.02.2018

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