The United Arab Emirates said on Thursday it was not interested "for the moment" to rejoin the Gulf monetary union but its foreign minister did not rule out a solution.

"I would not say the door is closed, there is nothing that is an end game in politics," Sheikh Abdullah bin Zayed Al-Nahayan told reporters in Latvia during a visit.

"But I am saying that for the moment we are not interested," he said, adding that his country's decision to withdraw was due to the decision by Gulf heads of state not to base the joint central bank in the UAE.

"We believe the UAE was the best candidate to have the headquarters," he said. "It was not that it was in Saudi Arabia, it was that it was not in the UAE." - Reuters