Paris, January 18 2025 – A high-level delegation from the United Arab Emirates (UAE), led by the General Secretariat of the National Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organizations Committee (NAMLCFTC), visited Paris to discuss avenues for improving and enhancing collaboration between the UAE and France in combating financial and organized crimes, thereby safeguarding international economic security.
The United Arab Emirates (UAE) and France have long shared a strong, robust and dynamic partnership, marked by economic, political, and cultural cooperation. The visit aimed to foster the bilateral partnership, align strategies on global issues, and pave the way for closer cooperation in key sectors.
Composition of the Delegation
The UAE delegation comprised representatives from various key institutions, including:
- Ministry of Interior
- Federal Public Prosecution
- Central Bank
- Financial Intelligence Unit
- Dubai’s Center for Economic Security
Aims of the Visit
The primary aim of the mission was to present the UAE’s National Strategy 2024–2027 for combating financial crimes. This initiative emphasizes on the UAE’s proactive efforts to strengthen international partnerships and exchange expertise in this domain. The visit highlights the following key points:
Strengthening Relations: Deepening the bilateral partnership between the UAE and France in areas of shared interest, particularly economic and financial security.
Enhancing Global Collaboration: Aligning efforts to address pressing international challenges such as money laundering, terrorism financing, and organized crime.
Exchanging Expertise: Sharing best practices and technical expertise in combating financial crimes to improve overall resilience.
The visit upheld the UAE’s proactive approach to combating illicit financial flows, reinforcing its commitment to international standards in anti-money laundering and countering terrorism financing (AML/CFT).
Key Highlights of the Visit
During their visit, the UAE delegation held high-level deliberations with French ministries, including the Ministry of Finance, the Ministry of Justice, and the Ministry of Interior. These meetings focused on strengthening the legal and operational frameworks to combat financial crimes and transnational threats. Hamid Saif AlZaabi, Secretary-General of the UAE’s General Secretariat and Vice Chairman of NAMLCFTC, underscored the significance of the partnership with France. He remarked:
“France is one of the UAE’s largest trade partners, and likewise, the UAE is France’s primary trade partner in the region. This necessitates strengthening our partnership to address illicit global financial flows. This visit is part of our commitment to fostering international cooperation and exchanging expertise.”
Key agenda items included addressing global organized crime, mitigating risks posed by drug trafficking, and enhancing financial transparency.
Focus on Combating Financial Crime
Financial crime remains a critical area of focus for the UAE and France. Both nations recognize the importance of a coordinated response to tackle challenges such as:
- Money laundering and the financing of terrorism.
- Fraud and corruption in international trade.
- Organized crime networks exploiting global financial systems.
As part of the discussions, the UAE delegation deliberated in detail the National Strategy for Combating Financial Crimes, which outlines a path for reducing illicit financial flows, enhancing regulatory frameworks, and leveraging technology to detect and prevent crimes.
The UAE’s active participation in international financial crime prevention initiatives, such as the Financial Action Task Force (FATF), was underscored during the discussions. The delegation reaffirmed the UAE’s commitment to implementing best practices and maintaining alignment with global AML/CFT standards.
Outcomes of the Visit
The UAE delegation’s visit to France resulted in several noteworthy outcomes:
Renewed Commitment to Combating Financial Crimes: Both nations pledged to deepen their cooperation in addressing financial crimes, leveraging technology, and sharing intelligence.
Enhanced Trade and Investment Opportunities: Discussions opened new avenues for collaboration in sectors such as renewable energy, fintech, and innovation.
Stronger Security Ties: Agreements to enhance intelligence sharing and joint enforcement actions were reinforced, reflecting a shared commitment to global security.
Strengthened Diplomatic Relations: The visit reaffirmed the strategic partnership between the UAE and France, signifying their mutual dedication to addressing global challenges.
The Way Forward
The UAE and France have consistently demonstrated their ability to adapt to evolving global challenges while maintaining a strong partnership. The UAE delegation’s visit to Paris is an important step towards their shared vision of a secure, prosperous, and sustainable future.
As both nations continue to strengthen their ties, the focus will remain on enhancing innovation, promoting sustainable development, and fostering global security. The UAE’s proactive engagement with France sets an example of how international cooperation can drive meaningful change in an increasingly interconnected world.
This meeting is not merely a step in enhancing bilateral ties; it is a reaffirmation of the UAE and France’s shared commitment to creating a better and safer global future.
The visit of the UAE delegation to Paris signifies a crucial and pivotal step in strengthening the strategic relationship between the UAE and France. By focusing on cooperative efforts to mitigate financial and organized crimes, both nations demonstrate a mutual and shared commitment to enhancing international economic security and upholding global standards in financial crime prevention.
To read more on this, click here.
