Enhanced economic integration between Arab countries is essential, says Saudi finance minister

Enhanced economic integration between Arab countries is essential, says Saudi finance minister

JEDDAH: Saudi Minister of Finance Mohammed Al-Jadaan said on Friday that a series of global crises have highlighted the importance of economic integration among Arab nations, the necessity for increased cooperation, and the need for the development of sustainable economic and financial models.

He said that such measures would help to enhance resilience in the Arab world in the face of the challenges and risks it faces, the Saudi Press Agency reported.

He was speaking on the sidelines of the 32nd Arab League Summit, which was hosted in Jeddah by the Kingdom, and during which Syria and its president, Bashar Assad, were welcomed back to the organization after a 12-year suspension.

Al-Jadaan welcomed Syria’s return to the Arab League, and highlighted Saudi Arabia’s commitment and efforts to ensure conditions are conducive for economic stability in the region, including the launch multiple initiatives and programs in support of Arab cooperation.

He also talked about the Kingdom’s collaboration with Arab Coordination Group institutions to help enhance food security, including a financial support package worth more than $10 billion to address this important issue.

The minister noted his country’s dedication to efforts that address debt challenges, through the launch of the Common Framework for Debt Treatments. The framework,