JEDDAH — Saudi Minister of Finance Mohammed Al-Jadaan emphasized that Arab countries must develop methods to measure the impact of increasing financial, economic, and trade pressures. In a statement on his X account following his participation in the joint annual meetings of Arab financial institutions and the 16th meeting of the Council of Arab Finance Ministers in Kuwait, Al-Jadaan underlined the need to formulate frameworks to respond to and deal with global challenges. "Saudi Arabia supports Arab financial institutions to achieve the common interest of Arab countries," he said while emphasizing the need to work according to flexible strategic directions that reflect the requirements of member states in light of the global economic situation. Al-Jadaan pointed to the role of Arab financial institutions in providing technical support and developing studies and research for Arab countries to confront challenges. Kuwait's Acting Prime Minister and Minister of Interior Sheikh Fahad Yousef Saud Al-Sabah inaugurated the 16th regular session of the Council of Arab Finance Ministers on Wednesday. In his speech, Sheikh Fahd has emphasized the importance of economic integration and cooperation among Arab countries. He also highlighted the need for Arab financial institutions to adapt to technological advancements, especially in artificial intelligence, and to strengthen efforts to enhance the business environment, productivity, and competitiveness. The meeting also saw discussions on improving the investment climate, strengthening transparency, and focusing on the financing of projects in underdeveloped countries. The Arab Monetary Fund, in cooperation with the Arab Fund for Economic and Social Development, organized the annual meetings of the joint Arab financial institutions, alongside the convening of the 16th Ordinary Session of the Council of Arab Finance Ministers. These meetings serve as an important annual platform for the exchange of views and experiences among economic decision-makers in the Arab world, and for discussing key challenges and opportunities facing Arab economies, contributing to enhanced economic and financial integration among member countries.
