Saudi Arabia Hosts 9th Conference of Environment Ministers in the Islamic World

Saudi Minister of Environment Abdulrahman al-Fadley at the 9th Conference of Environment Ministers in the Islamic World (SPA)
Saudi Minister of Environment Abdulrahman al-Fadley at the 9th Conference of Environment Ministers in the Islamic World (SPA)
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Saudi Arabia Hosts 9th Conference of Environment Ministers in the Islamic World

Saudi Minister of Environment Abdulrahman al-Fadley at the 9th Conference of Environment Ministers in the Islamic World (SPA)
Saudi Minister of Environment Abdulrahman al-Fadley at the 9th Conference of Environment Ministers in the Islamic World (SPA)

The 9th Conference of Environment Ministers in the Islamic World has been held in Jeddah under the patronage of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz.

The conference organized by the Ministry of Environment, Water and Agriculture and the Islamic World Educational, Scientific and Cultural Organization (ICESCO) was held between Oct. 18 and 19.

In his opening speech, Saudi Minister of Environment Abdulrahman al-Fadley welcomed environment ministers from 52 countries and delegates from 30 regional and international organizations dedicated to environmental matters.

He stressed that cooperation and collaboration between the Islamic nations play a critical role in environment protection, sustainability, and tackling global environmental challenges.

The Minister expressed the solidarity of Saudi Arabia with the Palestinian people and requested the international community to take a responsible stance and emphasized the necessity of adhering to the provisions of international and humanitarian laws.

Furthermore, he expressed solidarity of Saudi Arabia with Morocco and Libya while facing the aftermath of recent natural disasters in their countries.

“Preserving the environment is one of the pillars of Saudi Vision 2030, as it adopted the National Environment Strategy, established the fund and five environmental centers, as well as launched initiatives such as the Saudi Green Initiative and regionally Middle East Green Initiative.”

He indicated the Green Initiatives aim to develop vegetation cover, raise conservations to 30 percent, and adopt the carbon circular economy approach to reach zero neutrality in 2060.

The Middle East Green Initiatives aim to strengthen regional cooperation to combat desertification and preserve vegetation and its biodiversity. It also seeks to achieve food security, adapt to climate change, and improve the quality of life.

Saudi Arabia cooperated with many countries and international organizations to launch the Reducing Land Degradation and Enhancing Conservation of Terrestrial Habitats Platform, announced Fadley.

The platform aims to accelerate research and development to preserve coral reefs and reduce land degradation and loss of wild habitats, which was launched by G20 leaders during the Kingdom’s presidency of the group’s meetings in 2020.

Last month, Crown Prince Mohammed bin Salman announced the establishment of the Global Water Organization, headquartered in Riyadh.

Next year, Saudi Arabia will host the Conference of the Parties to the United Nations Convention to Combat Desertification (COP16) and World Environment Day 2024.

Fadley congratulated the recipients of the Kingdom Award for Environmental Management in the Islamic World during its third session.

Also at the ceremony, Secretary-General of the Organization of Islamic Cooperation (OIC) Hussein Taha asserted the importance of environmental security and its comprehensive impact.

He indicated that this requires urgent and coordinated action from all countries, especially since the Islamic world is one of the regions of the world most affected by global climate change.

Taha asserted that the concerns of Islamic nations must be heard at various international and global forums concerned with environmental issues.

He lauded the efforts at the 9th Conference of Environment Ministers in the Islamic World, indicated that its results will be a very important towards preparing the Islamic community for the upcoming COP28 conference in the UAE.

In turn, Director-General of the ICESCO Salim al-Malik mentioned environmental challenges facing the Islamic world, including issues of global warming, the surge in greenhouse gas emissions, rising global temperatures, loss of biodiversity, and plastic pollution.

He further noted that the scale of these challenges places a significant responsibility on the Islamic world.

Malik addressed the food waste issue, indicating that it amounts to 1.3 billion tons annually, enough to feed three billion people.

Climate crisis is the result of mismanagement, which requires decision-makers to work diligently to find radical solutions, increase the capital of the green economy, support its innovations, and make the best use of the digital and information revolution, said Malik.



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.


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.


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.