Saudi Finance Minister, US Treasury Secretary Affirm Need to Reinforce Economic Partnership

Doha: Saudi Minister of Finance Mohammed bin Abdullah Al Jadaan and US Secretary of the Treasury Scott Bessent affirmed the importance of strengthening the economic partnership between the two nations. This affirmation took place during a joint panel session titled 'Achieving Balance and Coordinating Fiscal and Monetary Policies' at the Saudi-US Investment Forum 2025, marking the visit of US President Donald Trump.

According to Qatar News Agency, Al Jadaan highlighted the growing influx of American investments in Saudi Arabia since the launch of Saudi Vision 2030. He pointed out that this bilateral partnership has played a role in reducing the Kingdom's dependence on oil as a primary revenue source in the general budget. Al Jadaan also emphasized that the significant volume of Saudi investments in the United States showcases the strength of the bilateral relationship.

Bessent expressed optimism about the future of global trade, noting that the agreements signed would contribute to economic progress. He stated that the US administration is working towards opening the Chinese market to American products, which could help restore balance in the global economy.