Saudi Arabia’s Minister of Economy and Planning, Faisal Alibrahim, highlighted the Kingdom’s economic diversification strategy and efforts to promote sustainable growth during the 2026 OECD Ministerial Council Meeting (MCM) of the Organisation for Economic Co-operation and Development (OECD) in Paris.
Held under the theme ‘Getting Industrial Policies Right for Open Markets, Growth and Prosperity’, the ministerial meeting brought together policymakers and economic leaders to discuss strategies for fostering economic resilience, competitiveness, and sustainable development.
During a session titled ‘Balancing the Goals and Impacts of Industrial Policy’, Alibrahim outlined Saudi Arabia’s experience in advancing economic diversification under Saudi Vision 2030.
The Saudi minister highlighted the Kingdom’s approach to industrial policy, which focuses on strengthening long-term competitiveness, enhancing economic resilience, and creating an enabling environment for innovation, investment, and private-sector growth.
The minister emphasized the importance of developing flexible and productivity-driven industrial policies that build capabilities and support competitiveness across the broader economy. He also underscored the role of international cooperation in driving sustainable economic development, facilitating knowledge exchange, encouraging investment flows, and enabling companies to innovate and compete in global markets.
Strengthening bilateral ties at OECD meet
On the sidelines of the OECD Ministerial Council Meeting, Alibrahim held a series of bilateral meetings with senior international officials to discuss economic cooperation and global economic developments.
The minister met with Republic of KoreaMinister for Trade Han-Koo Yeo to review opportunities for strengthening economic, trade, and investment cooperation between the two countries. The discussions also covered recent developments in the global economy and their potential implications for international markets.
Image Courtesy: SPA | Cropped by GBN
Alibrahim also met with IcelandicMinister of Finance and Economic Affairs Daði Már Kristófersson. The meeting reviewed the latest global economic developments, explored avenues to enhance bilateral economic cooperation, and addressed issues of mutual interest.
In a separate meeting, the Saudi minister met with OECD Secretary-General Mathias Cormann. The two officials discussed regional and global economic trends and explored ways to deepen cooperation between Saudi Arabia and the OECD across areas of shared interest.
The meetings form part of Saudi Arabia’s ongoing efforts to strengthen international economic partnerships, expand investment cooperation, and support the objectives of Saudi Vision 2030 through greater global engagement and policy collaboration.
