Saudi Arabia Highlights Importance of Global Cooperation to Support World Economy

Saudi Minister of Economy and Planning Faisal bin Fadhil Al-Ibrahim addresses the G20 Development Ministers Meeting. SPA
Saudi Minister of Economy and Planning Faisal bin Fadhil Al-Ibrahim addresses the G20 Development Ministers Meeting. SPA
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Saudi Arabia Highlights Importance of Global Cooperation to Support World Economy

Saudi Minister of Economy and Planning Faisal bin Fadhil Al-Ibrahim addresses the G20 Development Ministers Meeting. SPA
Saudi Minister of Economy and Planning Faisal bin Fadhil Al-Ibrahim addresses the G20 Development Ministers Meeting. SPA

Saudi Minister of Economy and Planning Faisal bin Fadhil Al-Ibrahim has underlined the Kingdom’s steadfast commitment to renewing global cooperation and achieving the 17 UN Sustainable Development Goals (SDGs), the Saudi Press Agency reported.

Al-Ibrahim said the G20 Development Ministers’ Meeting was an opportunity to work more closely and put forward concrete actions to support developing countries and foster inclusive, resilient, socially, economically, and environmentally sustainable recovery efforts and, as the world’s fastest-growing economy, the Kingdom is proud to renew and reaffirm its commitment towards achieving these goals.

“International cooperation is a key priority for the Kingdom, and we remain more committed than ever to work closely with our international partners to achieve the 2030 Agenda and the SDGs,” SPA quoted him as saying.

“To do this, we must restore faith in the multilateral framework. We are fully aligned with the G20 Ministerial vision statement’s claim that multilateralism is not an option but a necessity if we want to create a more equitable, resilient, and sustainable world.”

Saudi Arabia has already taken steps to accelerate its path toward achieving the UN 2030 Agenda and the SDGs.

Rapid and decisive measures taken by the Kingdom’s government have enabled the country to limit the impact of COVID-19 on the economy which set the foundation for today’s robust growth.

In June, the Ministry of Economy and Planning and the United Nations resident Coordinator’s Office in Riyadh signed the United Nations Sustainable Development Cooperation Framework.



Saudi Arabia, Egypt to Establish Framework for Joint Coordination Council

 Saudi Crown Prince Mohammed bin Salman and Egyptian President Abdel Fattah al-Sisi during a previous meeting. (SPA)
Saudi Crown Prince Mohammed bin Salman and Egyptian President Abdel Fattah al-Sisi during a previous meeting. (SPA)
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Saudi Arabia, Egypt to Establish Framework for Joint Coordination Council

 Saudi Crown Prince Mohammed bin Salman and Egyptian President Abdel Fattah al-Sisi during a previous meeting. (SPA)
Saudi Crown Prince Mohammed bin Salman and Egyptian President Abdel Fattah al-Sisi during a previous meeting. (SPA)

Riyadh and Cairo are setting up the framework for the Saudi-Egyptian Higher Coordination Council, Egypt's Foreign Minister Badr Abdelatty said.

Experts told Asharq Al-Awsat the move strengthens political, economic, and development ties between the two nations.

In a televised statement on Thursday, Abdelatty said: “We are working on the council’s coordination structure,” highlighting the “strong strategic partnership and continuous cooperation” between Saudi Arabia and Egypt.

Prince Mohammed bin Salman bin Abdulaziz, Saudi Crown Prince and Prime Minister, and Egyptian President Abdel Fattah al-Sisi signed an agreement in Cairo in October to establish the council, which they will co-chair.

In November, Egypt approved the council, saying it aims to strengthen cooperation and communication between the two countries in various fields.

Saudi journalist Khaled Al-Majrashi called the council a step toward deeper Saudi-Egyptian integration, focusing on investment and trade under the guidance of both nations’ leaders.

“The council sets a framework for future collaboration, particularly in areas like investment and trade, under the directives of both nations’ leaderships,” Al-Majrashi said, citing earlier remarks by Saudi Commerce Minister Majid Al-Qasabi about his mandate to promote investment in Egypt.

Former Egyptian Deputy Foreign Minister Rakha Ahmed Hassan said the council will remove obstacles to cooperation and deepen ties across all sectors.

Egyptian Senator Dr. Abdel Monem Said described Saudi Arabia and Egypt as the region’s “balancing pillars,” saying stronger cooperation is crucial to tackle regional challenges. He called the council a key step toward stability and joint action.

“No Arab country can face regional instability alone,” he said, adding that the council will help protect both nations from threats and improve coordination on shared challenges.

In September, Abdelatty and Saudi Foreign Minister Prince Faisal bin Farhan bin Abdullah said the council would deepen ties and boost cooperation in politics, trade, investment, and development.

Last month, Egypt’s government said the council will include officials from both sides, hold regular meetings in both countries, and replace the previous joint committee framework.