His Excellency the Saudi Minister of Finance, Mr. Mohammed Aljadaan, led the Kingdom’s delegation at the 123rd meeting of the Financial and Economic Cooperation Committee of the Gulf Cooperation Council (GCC). The meeting took place on June 1, 2025, in Kuwait.
The session was chaired by Her Excellency Eng. Noora Al-Fassam, Kuwait’s Minister of Finance and Minister of State for Economic Affairs and Investments. It included participation from GCC finance ministers and His Excellency the Secretary General of the Gulf Cooperation Council.
Key topics discussed involved enhancing financial and economic cooperation among GCC member states. The committee reviewed recommendations from the Undersecretaries Committee and updates monitored by the GCC Secretariat General.
The agenda also covered outcomes from meetings involving the Committee of Central Bank Governors, Customs Union Authority, Tax Administrations Heads, and GCC Common Market Committee.
On the sidelines, Minister Aljadaan signed a Memorandum of Understanding (MoU) with Her Excellency Eng. Noora Al-Fassam to enhance cooperation in the financial sector between Saudi Arabia and Kuwait. This MoU aims to deepen bilateral ties and foster collaboration in advancing shared strategic interests.
Minister Aljadaan stated that this MoU seeks to “enhance joint coordination between the two countries in various regional and international financial matters through international organizations and institutions.” He emphasized its role in developing financial systems and legislation in the public sector.
Additionally, Minister Aljadaan participated in launching a media campaign for the GCC Common Market. This initiative aims to raise awareness about its objectives and achievements while highlighting opportunities available to GCC citizens across various economic fields.
