Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, has urged emerging and developing economies to take a stronger role in global economic governance, reflecting their growing share of global GDP and influence. Moreover, he emphasized that their rising economic contribution must translate into meaningful participation in international policymaking.
Speaking at the second edition of the AlUla Conference for Emerging Market Economies, Aurangzeb highlighted that collective dialogue and coordinated policies are critical in addressing complex challenges, including geopolitical tensions, trade fragmentation, and technological disruptions such as artificial intelligence. Consequently, he stressed the need for structured engagement among finance ministers and central bank governors.
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The Finance Minister praised Saudi Arabia for hosting the conference, calling it a timely platform for sharing lessons, aligning strategies, and fostering cooperation among emerging economies. He noted that such forums enable policymakers to navigate global economic uncertainties while promoting inclusive growth and long-term stability.
Aurangzeb underscored that the true value of these high-level discussions lies not only in debate but in implementation. He added that translating conference deliberations into actionable policy measures throughout the year is essential for tangible impact on global economic systems.
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Highlighting the increasing economic weight of emerging markets, he argued that their expanding share in global output should be matched by greater influence in decision-making processes. Moreover, coordinated strategies among these nations can strengthen their collective voice in shaping a fair and resilient global order.
Finally, the Finance Minister expressed confidence that the outcomes of the AlUla Conference would enhance cooperation, reinforce joint policy initiatives, and provide a roadmap for emerging economies to assert leadership in global economic governance effectively.