The Federal Minister for Finance and Revenue of Pakistan, Senator Muhammad Aurangzeb, has embarked on a journey to the Kingdom of Saudi Arabia. He is set to participate in the inaugural AlUla Conference for Emerging Market Economies, scheduled to commence on February 16. This high-level event, held in collaboration with the International Monetary Fund (IMF) and the Saudi Ministry of Finance, brings together finance ministers, policymakers, and private sector leaders from around the world. The conference aims to address challenges faced by emerging markets and developing economies, fostering a strong and sustainable global economy.
Senator Aurangzeb's attendance at this significant gathering underscores the international recognition of Pakistan’s efforts toward economic stability amidst global uncertainties. Accompanied by Khurram Schehzad, an advisor on economic and financial reforms, Aurangzeb will engage in discussions that highlight Pakistan's role in the global economic landscape. The event, taking place in the historic city of AlUla, features nine sessions with 200 participants and 36 speakers representing 48 countries.
Aurangzeb is slated to join a panel discussion moderated by IMF Managing Director Kristalina Georgieva, focusing on the path forward for emerging markets. Alongside finance ministers from Egypt, Brazil, and Turkiye, he will explore strategies to navigate financial instability, trade tensions, and geopolitical uncertainties. The panel discussions aim to provide actionable insights and solutions to bolster the resilience of emerging economies.
Beyond the formal sessions, Aurangzeb met with his Saudi counterpart, Mohammed bin Abdullah Al-Jadaan, to discuss economic cooperation and investment opportunities between the two nations. The meeting, attended by Dr. Hamad Mohammed Al Sheikh, emphasized the robust bilateral ties between Saudi Arabia and Pakistan. Both sides explored potential collaborations in key sectors such as infrastructure, energy, technology, and finance. The discussions highlighted a shared commitment to strengthening economic relations and unlocking new avenues for growth and development.
This conference marks the beginning of an annual event dedicated to fostering dialogue and collaboration among emerging market economies. By addressing critical challenges and sharing best practices, the event seeks to pave the way for a more stable and prosperous global economic future. The participation of Pakistani officials reflects the country's proactive approach to engaging with the international community and reinforcing its position as a key player in the global economy.