The Kingdom will host the Al-Ula Conference for Emerging Market Economies next Sunday

The conference will be held in light of the rapid transformations taking place in the global economy. This reality requires that emerging market economies work to enhance their flexibility and seize new opportunities to ensure sustainable growth and improve living standards, which will reflect positively on global economic stability.

Emerging Market Economies

The AlUla Conference for Emerging Market Economies embodies the strength of the strategic partnership between the Saudi Ministry of Finance and the International Monetary Fund, and at the same time reflects the Kingdom’s growing role in supporting international economic dialogue and enhancing cooperation between countries.

The Minister of Finance, Mohammed bin Abdullah, stressed Al-Jadaan said that the Kingdom’s hosting of the conference comes as an extension of its continued commitment to supporting international efforts aimed at enhancing financial and economic stability globally, noting that emerging market economies represent a pivotal element in the global economic system, because of their direct impact on the growth and stability of the global economy.

Economic Developments

He said: "The AlUla Conference for Emerging Market Economies provides a unique platform to exchange views on global economic developments, and discuss policies and reforms that would support comprehensive growth and enhance economic flexibility, in light of broader international cooperation that contributes to confronting common challenges."

The Director General of the International Monetary Fund, Kristalina Georgieva, explained "The AlUla Conference provides a vital platform for emerging market economies to discuss ways to deal with risks and seize opportunities in the next stage. As the global economy undergoes broad transformations, driven by technology, demographic and geopolitical changes, policymakers face a more complex and uncertain environment. Hence, countries must work together to enhance resilience through rational macroeconomic and fiscal policies."

Economic Reform

The conference participants will work to exchange experiences among themselves, coordinate policies, and support economic reform paths, which will contribute to enabling these countries to benefit from global economic transformations and achieve more comprehensive and sustainable growth.

The conference also aims to raise the level of international awareness of the challenges facing emerging market economies, and highlight the successful experiences of some countries in building innovative solutions that enhance international cooperation, support attracting investments, and contribute to improving living standards and achieving economic prosperity.