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SAUDI ARABIA, OECD AGREE TO BOOST COOPERATION ON WIDE RANGE OF PUBLIC POLICY
INITIATIVES

Author of the article:

Business Wire

Published Jan 17, 2024
1 minute read

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Saudi Arabia's Minister of Economy and Planning, HE Faisal F. Alibrahim, signs
agreement with OECD Secretary-General Mathias Cormann to expand cooperation
between Saudi Arabia and the OECD, at the World Economic Forum Annual Meeting
2024 in Davos, Switzerland. Business Wire

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Saudi Arabia and OECD sign MoU at World Economic Forum Annual Meeting 2024 to
expand cooperation on economic and governance policies

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DAVOS, Switzerland — The Kingdom of Saudi Arabia and the Organisation for
Economic Co-operation and Development (OECD) today signed a Memorandum of
Understanding (MoU) to enhance cooperation on a wide range of public policy
initiatives in areas including the economy, tax, corporate governance and
sustainability.

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The strategic partnership, signed during the World Economic Forum (WEF) Annual
Meeting 2024 in Davos, Switzerland, reflects the Kingdom’s solutions-oriented
approach to multilateralism and its willingness to build balanced and
collaborative institutional frameworks for sustained prosperity.

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Article content

His Excellency Faisal F. Alibrahim, Minister of Economy and Planning, said the
Saudi-OECD partnership would further boost the Kingdom’s thriving investment
landscape through collaborative policies and regulations that promote
competitive private sector participation in Saudi Arabia’s rapidly diversifying
economy.

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“International partnerships with organizations such as the OECD are key to
continuously enhancing our institutional capabilities and facilitating knowledge
and technology transfers. Under this partnership with the OECD, we will further
develop robust public policies that align with international best practices and
can further drive the momentum of Saudi Vision 2030.”

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The collaboration will take various forms, including joint research, information
exchange, the sharing of statistical data, the organization of meetings and
events, and support for Saudi Arabia’s alignment with OECD standards, which
includes evaluation and comparative analyses of policy practices.

Article content



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Saudi Arabia already participates in nine OECD committees and adheres to seven
OECD legal instruments. The collaboration will deepen the Kingdom’s cooperation
with the organization in policy areas including public governance and regulatory
policy, skills and education, corporate governance and finance, investment
policy, anti-corruption, and trade facilitation.

Article content



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The partnership emphasizes a commitment to good governance, integrity,
transparency, and evidence-based policy. As Saudi Arabia progresses with Saudi
Vision 2030, global collaborations will play a pivotal role in shaping policies
that foster economic growth, environmental sustainability, and social
development.

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Source: AETOSWire

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View source version on businesswire.com:
https://www.businesswire.com/news/home/20240117710990/en/

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Contacts

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Wooud Alquaied
walquaied@mep.gov.sa

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