Europe and UAE: a fight against terrorist financing
The fight against arms trafficking, and particularly the financing of terrorism, is one of the most important issues facing the UAE. However, the battle against extremist forces that threaten peace and security in the Middle East is not only its responsibility, but that of international society as a whole. That is why the European Union, from its position, is doing its part to tackle one of the problems that affects the whole world and which it wants to put an end to as soon as possible.
In this context, the third session of the structural dialogue between the United Arab Emirates and the European Union against money laundering and terrorist financing was held. The meeting was chaired by Amna Fikri, Director of the Department of Economic and Commercial Affairs at the UAE Ministry of Foreign Affairs and International Cooperation, and for the European Union, Raluca Bruna, Head of the Financial Crime Control Unit, and Head of the Directorate General for Financial Stability and Financial Services and the Capital Markets Association.
One of the topics of discussion was the extension of the framework for action by judicial bodies on both sides against money laundering and terrorist financing. This included an "expected EU legislative package on money laundering and terrorist financing, and the UAE's efforts and progress in developing an effective framework to combat terrorism". It is essential that the capacity of both the EU and the UAE to act is both broader and stronger in order to be able to combat money laundering and terrorism forcefully.
"The activation of various international cooperation platforms and information exchange initiatives between the technical authorities of both sides with regard to the fight against money laundering and the financing of terrorism", was another of the most relevant topics throughout the meeting. This was discussed in parallel with "risk assessment in the UAE and progress made with regard to the implementation of a risk-based approach, and cooperation between the UAE and the European Union in the field of counter-terrorism".
The option of visits between the EU and the UAE has been considered in the near future to further strengthen the ties that bind them together, not only in these struggles, but also in the creation of new ties that build bridges between the Old Continent and the UAE. Moreover, less than a year ago, the second session of the EU-UAE Structural Dialogue took place on 11 November last year. The frequency of these meetings demonstrates concerns about money laundering and terrorist financing, the same issues addressed at the previous session.
Amna Fikri, Director of the Department of Economic and Commercial Affairs at the UAE Ministry of Foreign Affairs and International Cooperation, said, "The UAE sees great value in this dialogue. I think it is remarkable how this dialogue has evolved over the course of a year". He also referred to previous meetings to which he said "the first session was held last July, with the aim of achieving a number of important tangible results, including the organisation of effective training courses, led by experts from the EU Global Facility".
Following this third session, it is hoped that the above will serve as a basis for a broader spectrum of measures to improve measures against money laundering and terrorist financing. However, the intention is that the relationship between the EU and the United Arab Emirates will take a step forward and that both parties will be able to reach new agreements that bring the positions of both the EU and one of the countries with the greatest potential for the future, the United Arab Emirates, closer together.
