Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, highlighted the growing importance of emerging markets and developing economies in global economic governance during his participation in the second edition of the AlUla Conference for Emerging Market Economies. Speaking to the Saudi Press Agency, he emphasized that these economies must take on a more prominent role in shaping international economic policies, reflecting their increasing contribution to global growth and GDP.
The finance minister stressed that coordinated policy responses and collective dialogue are essential in an increasingly complex global environment. He described the AlUla Conference as a timely platform for finance ministers and central bank governors to exchange perspectives amid challenges such as geopolitical tensions, trade fragmentation, and rapid technological transformations, particularly in artificial intelligence. Senator Aurangzeb expressed appreciation to Saudi Arabia for hosting the event and providing a forum for structured yet open engagement among policymakers.
He noted that since the inaugural edition of the conference, global economic dynamics have shifted significantly, underscoring the importance of collaboration among emerging economies. Such platforms, he said, allow countries to share lessons, align strategies, and strengthen cooperative efforts in addressing international economic challenges. The finance minister highlighted that the conference provides an opportunity for emerging economies to ensure their growing share in global output and growth is reflected in global decision-making processes.
Senator Aurangzeb also emphasized that the true value of these high-level engagements lies in translating dialogue into tangible policy actions. He noted that discussions should not remain theoretical but must result in practical implementation of strategies and coordinated measures throughout the year. The minister expressed confidence that the outcomes of the AlUla Conference would bolster coordination among emerging economies and reinforce their collective voice in creating a more inclusive and resilient global economic framework.
The minister’s remarks underline Pakistan’s commitment to advocating for emerging markets and developing economies on the global stage. By participating in international forums such as the AlUla Conference, the country aims to contribute to a balanced and effective global economic governance structure, ensuring that the interests and perspectives of emerging economies are considered in shaping policies that impact global growth, stability, and technological innovation.
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