His Excellency the Saudi Minister of Finance, Mr. Mohammed Aljadaan, headed the Kingdom's delegation participating in the 123rd meeting of the Financial and Economic Cooperation Committee of the Gulf Cooperation Council (GCC), held on Sunday, June 1, 2025, in the State of Kuwait.
The meeting was chaired by Her Excellency Eng. Noora Al-Fassam, the State of Kuwait's Minister of Finance and Minister of State for Economic Affairs and Investments, along with the participation of Their Excellencies the Ministers of Finance of the GCC countries and His Excellency the Secretary General of the Gulf Cooperation Council.
During the meeting, Their Excellencies discussed several topics related to enhancing financial and economic cooperation among the GCC member states. The Committee members reviewed the recommendations submitted by the Undersecretaries Committee, as well as the latest updates monitored by the GCC Secretariat General.
The discussions also included the outcomes of the meetings of the Committee of Central Bank Governors, the Customs Union Authority, the Committee of Heads and Directors of Tax Administrations, and the GCC Common Market Committee.
On the sidelines of the meeting, Minister Aljadaan signed a Memorandum of Understanding (MoU) with Her Excellency Eng. Noora Al-Fassam, for cooperation with the State of Kuwait in the financial sector. The MoU would deepen bilateral ties and foster enhanced cooperation in the financial sector, advancing the shared strategic interests of both brotherly nations.
Minister Aljadaan said that this MoU is intended to enhance joint coordination between the two countries in various regional and international financial matters through international organizations and institutions. It will also play a significant role in developing and governing financial systems and legislation in the public sector.
Minister Aljadaan also participated in the launch ceremony of the media campaign for the GCC Common Market, which is designed to raise public awareness about the objectives and achievements of the Gulf Common Market, and to highlight the unique opportunities it offers to citizens of the GCC countries in various economic fields, thereby contributing to sustainable economic growth.