Finance Minister Leads Saudi Delegation to 123rd Meeting of GCC Financial and Economic Cooperation Committee in Kuwait

Minister of Finance Mohammed Aljadaan led the Saudi delegation participating in the 123rd meeting of the Gulf Cooperation Council (GCC) Financial and Economic Cooperation Committee, held today in the State of Kuwait.

 The meeting was chaired by Minister of Finance and Minister of State for Economic Affairs and Investment of Kuwait Noura Al-Fusam, with the participation of finance ministers from GCC member states and GCC Secretary-General Jasem Mohammed Albudaiwi.

 The committee discussed a range of topics aimed at strengthening financial and economic cooperation among member states. These included recommendations submitted by the Committee of Undersecretaries, as well as updates monitored by the GCC General Secretariat. The meeting also reviewed the outcomes of meetings held by the Committee of Central Bank Governors, the Customs Union Authority, the Committee of Heads and Directors of Tax Administrations, and the Committee on the GCC Common Market.

 On the sidelines of the meeting, Minister Aljadaan signed a memorandum of understanding with his Kuwaiti counterpart for cooperation in the financial field. The agreement seeks to enhance and develop relations between the two ministries and promote cooperation in financial matters in a way that serves the shared interests of the two brotherly countries.

 Minister Aljadaan stated that the MoU falls within the framework of strengthening joint coordination between the two countries on various regional and international issues, including the financial field, through relevant international organizations and institutions. He also emphasized the importance of the memorandum in developing and governing public sector financial systems and legislation.

 Additionally, the minister participated in the inauguration ceremony of the Unified Media Campaign for the GCC Common Market, which aims to raise public awareness about the objectives and benefits of the market and highlight the qualitative opportunities it provides to GCC citizens across various economic sectors, contributing to the desired economic growth.