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Saudi Arabia, Qatar Review Strategy for Joint Business Council

The Saudi-Qatari Business Council meeting at the Federation of Saudi Chambers (Asharq Al-Awsat)
The Saudi-Qatari Business Council meeting at the Federation of Saudi Chambers (Asharq Al-Awsat)
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Saudi Arabia, Qatar Review Strategy for Joint Business Council

The Saudi-Qatari Business Council meeting at the Federation of Saudi Chambers (Asharq Al-Awsat)
The Saudi-Qatari Business Council meeting at the Federation of Saudi Chambers (Asharq Al-Awsat)

Saudi Minister of Investment Khalid al-Falih held talks at the Federation of Saudi Chambers headquarters with the chairman and members of the Saudi-Qatari Business Council. This comes as Saudi Arabia and Qatar are preparing a joint strategy for business in the private sector in the two countries.

The meeting addressed the role and agenda of the council in enhancing the economic relations between the Kingdom and Qatar.

The Saudi Minister underscored the role of the Saudi-Qatari relations at the highest levels, stating that Saudi Arabia represents an economic, strategic depth for Qatar, while Doha represents significant economic importance for the Kingdom.

He stressed the importance of continuing efforts and communication to open more opportunities for the business sectors in both countries and enhance joint trade and investment.

Falih praised the role of the Ministry of Investment as a supporter and enabler of Saudi investment abroad, stressing that the Saudi-Qatari Business Council is one of the important councils.

Saudi Arabia is keen to support it in a way that upgrades the economic ties between the two countries to the highest levels, asserted the Minister.

During the meeting, Falih was briefed on the plans, goals, initiatives, and projects of the council in strengthening economic relations between the two countries.

The Chairman of the Council, Hamad al-Shuwaier, said that the council wants to draft a study analyzing the economic development witnessed by the Saudi Arabia and Qatar.

Shuwaier announced that the trade exchange amounted to $213.8 million in the first half of 2022, noting that the council plans to forge innovative programs and initiatives to increase investment, provide qualitative partnerships and enhance economic integration.

The meeting recommended holding a Saudi-Qatari investment forum to showcase the available opportunities and continue the efforts leading to a smooth trade and export flow between the two countries.

Meanwhile, the Saudi Industrial Development Fund launched its first sustainability report: "Enabling Sustainable Industrial Growth in Saudi Arabia."

The report aims to clarify the efforts and practices of the Fund and review examples of the clients' application concerning environmental sustainability, societal impact, and corporate governance, which would positively reflect on the future development of the industrial, mining, energy, and logistics sectors in the Kingdom.

The report reviewed environmental sustainability, such as climate change and emissions reduction, efficient use of energy, rational use of water resources, and others.

The report reveals the Fund's commitment to it since its establishment.

It also clarifies the Fund's practices that seek to enhance societal impact through positive influence through internal and external policies and procedures, which would contribute to supporting and maximizing the potential of the Saudi society through educational and career opportunities in pursuit of national goals.

The report also refers to the Fund's journey towards the governance of its business supported by corporate governance and responsible management, designed to ensure sustainable growth in the Fund and the targeted sectors.

The Fund issued this report knowing the great importance of these statements in creating the principles of sustainable development in response to the needs of all actors in the local industry and Saudi society in the Kingdom.

The Industrial Development Fund is a member of the Sustainability Council established by the Ministry of Industry and Mineral Resources in 2021. It provides a unified platform for consultation on sustainability issues that positively impact the industrial sectors and the local community.

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Business

IMF and Arab Monetary Fund Sign MoU to Enhance Cooperation

The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA
The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA
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IMF and Arab Monetary Fund Sign MoU to Enhance Cooperation

The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA
The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA

The International Monetary Fund (IMF) and the Arab Monetary Fund (AMF) signed a memorandum of understanding (MoU) on the sidelines of the AlUla Conference on Emerging Market Economies (EME) to enhance cooperation between the two institutions.

The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki, SPA reported.

The agreement aims to strengthen coordination in economic and financial policy areas, including surveillance and lending activities, data and analytical exchange, capacity building, and the provision of technical assistance, in support of regional financial and economic stability.

Both sides affirmed that the MoU represents an important step toward deepening their strategic partnership and strengthening the regional financial safety net, serving member countries and enhancing their ability to address economic challenges.

Business

Saudi Chambers Federation Announces First Saudi-Kuwaiti Business Council

File photo of the Saudi flag/AAWSAT
File photo of the Saudi flag/AAWSAT
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Saudi Chambers Federation Announces First Saudi-Kuwaiti Business Council

File photo of the Saudi flag/AAWSAT
File photo of the Saudi flag/AAWSAT

The Federation of Saudi Chambers announced the formation of the first joint Saudi-Kuwaiti Business Council for its inaugural term (1447–1451 AH) and the election of Salman bin Hassan Al-Oqayel as its chairman.

Al-Oqayel said the council’s formation marks a pivotal milestone in economic relations between Saudi Arabia and Kuwait, reflecting a practical approach to enabling the business sectors in both countries to capitalize on promising investment opportunities and strengthen bilateral trade and investment partnerships, SPA reported.

He noted that trade between Saudi Arabia and Kuwait reached approximately SAR9.5 billion by the end of November 2025, including SAR8 billion in Saudi exports and SAR1.5 billion in Kuwaiti imports.

Business

Leading Harvard Trade Economist Says Saudi Arabia Holds Key to Success in Fragmented Global Economy

Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).
Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).
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Leading Harvard Trade Economist Says Saudi Arabia Holds Key to Success in Fragmented Global Economy

Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).
Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).

Harvard University economics professor Pol Antràs said Saudi Arabia represents an exceptional model in the shifting global trade landscape, differing fundamentally from traditional emerging-market frameworks. He also stressed that globalization has not ended but has instead re-formed into what he describes as fragmented integration.

Speaking to Asharq Al-Awsat on the sidelines of the AlUla Conference for Emerging Market Economies, Antràs said Saudi Arabia’s Vision-driven structural reforms position the Kingdom to benefit from the ongoing phase of fragmented integration, adding that the country’s strategic focus on logistics transformation and artificial intelligence constitutes a key engine for sustainable growth that extends beyond the volatility of global crises.

Antràs, the Robert G. Ory Professor of Economics at Harvard University, is one of the leading contemporary theorists of international trade. His research, which reshaped understanding of global value chains, focuses on how firms organize cross-border production and how regulation and technological change influence global trade flows and corporate decision-making.

He said conventional classifications of economies often obscure important structural differences, noting that the term emerging markets groups together countries with widely divergent industrial bases. Economies that depend heavily on manufacturing exports rely critically on market access and trade integration and therefore face stronger competitive pressures from Chinese exports that are increasingly shifting toward alternative markets.

Saudi Arabia, by contrast, exports extensively while facing limited direct competition from China in its primary export commodity, a situation that creates a strategic opportunity. The current environment allows the Kingdom to obtain imports from China at lower cost and access a broader range of goods that previously flowed largely toward the United States market.

Addressing how emerging economies should respond to dumping pressures and rising competition, Antràs said countries should minimize protectionist tendencies and instead position themselves as committed participants in the multilateral trading system, allowing foreign producers to access domestic markets while encouraging domestic firms to expand internationally.

He noted that although Chinese dumping presents concerns for countries with manufacturing sectors that compete directly with Chinese production, the risk is lower for Saudi Arabia because it does not maintain a large manufacturing base that overlaps directly with Chinese exports. Lower-cost imports could benefit Saudi consumers, while targeted policy tools such as credit programs, subsidies, and support for firms seeking to redesign and upgrade business models represent more effective responses than broad protectionist measures.

Globalization has not ended

Antràs said globalization continues but through more complex structures, with trade agreements increasingly negotiated through diverse arrangements rather than relying primarily on multilateral negotiations. Trade deals will continue to be concluded, but they are likely to become more complex, with uncertainty remaining a defining feature of the global trading environment.

Interest rates and artificial intelligence

According to Antràs, high global interest rates, combined with the additional risk premiums faced by emerging markets, are constraining investment, particularly in sectors that require export financing, capital expenditure, and continuous quality upgrading.

However, he noted that elevated interest rates partly reflect expectations of stronger long-term growth driven by artificial intelligence and broader technological transformation.

He also said if those growth expectations materialize, productivity gains could enable small and medium-sized enterprises to forecast demand more accurately and identify previously untapped markets, partially offsetting the negative effects of higher borrowing costs.

Employment concerns and the role of government

The Harvard professor warned that labor markets face a dual challenge stemming from intensified Chinese export competition and accelerating job automation driven by artificial intelligence, developments that could lead to significant disruptions, particularly among younger workers. He said governments must adopt proactive strategies requiring substantial fiscal resources to mitigate near-term labor-market shocks.

According to Antràs, productivity growth remains the central condition for success: if new technologies deliver the anticipated productivity gains, governments will gain the fiscal space needed to compensate affected groups and retrain the workforce, achieving a balance between addressing short-term disruptions and investing in long-term strategic gains.