The State of Qatar and the Kingdom of Saudi Arabia have signed a Memorandum of Understanding (MoU) to bolster cooperation in the finance sector.
The MoU was signed by HE Ali bin Ahmed Al Kuwari, Qatar Minister of Finance, and HE Mohammed Aljadaan, Saudi Minister of Finance Mohammed Aljadaan, on the sidelines of the 122nd meeting of the Gulf Cooperation Council (GCC) Financial and Economic Cooperation Committee in Doha, Qatar.
During the signing ceremony, Qatar Minister of Finance highlighted the significance of this partnership, stressing its profound implications for the finance sector.
HE Ali bin Ahmed Al Kuwari Qatar Minister of Finance
“The signing of the MOU comes in recognition of the importance of exchanging expertise and information in the financial sector in order for each party to benefit from the other party’s expertise, and to enhance and strengthen relations between our two nations in this field.”
HE Mohammed Aljadaan stated that the agreement is part of the nation’s efforts to bolster ties between Saudi Arabia and Qatar in the finance sector. Saudi plans to bolster cooperation across various areas including microeconomic policy, public sector laws, and legislation, with an aim to drive economic growth in the region.
The agreement between the two countries seeks to promote international standards of transparency by facilitating the exchange of documented financial information, within the framework of their shared commitment to enhance coordination and joint cooperation on regional and international issues in the finance sector.
Additionally, the partnership seeks to strengthen overall financial policies, analyze public financial data, and address climate change issues that are directly related to financial policies.
