UAE Strengthens Financial and Climate Cooperation with Seychelles and Mauritius


 The United Arab Emirates (UAE) has bolstered its relations with Seychelles and Mauritius through a series of memoranda of understanding (MoUs) aimed at enhancing cross-border financial transactions and tackling climate change.

With Seychelles, the MoUs focus on increasing the use of the UAE Dirham and the Seychellois Rupee in financial and commercial exchanges. This will streamline costs, reduce transaction times, and strengthen foreign exchange markets, ultimately boosting trade, investment, and remittances between the two nations. Caroline Abel, Governor of the Central Bank of Seychelles, highlighted the importance of a robust financial system for small island economies, stating that these agreements will facilitate trade and improve financial linkages. Seychelles’ ongoing efforts to modernize its national payment system align with this vision, fostering seamless cross-border financial transactions and enhancing economic ties with the UAE.

Simultaneously, the UAE has also signed an MoU with Mauritius to address climate change, reinforcing its commitment to sustainable development in vulnerable island nations. Mauritius’ Minister of Energy and Public Utilities, Georges Lesjongard, expressed his appreciation for the UAE’s longstanding cooperation, especially in critical sectors related to climate resilience. He emphasized that this partnership would support Mauritius’ Nationally Determined Contributions and bolster the island’s resilience against climate impacts.

These agreements underscore the UAE’s dedication to fostering economic growth and climate resilience through strategic partnerships with island nations, reinforcing its role as a key player in sustainable development across the Indian Ocean region.

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