Switzerland and Saudi Arabia discuss developments in the finance sector

21 June 2024 12:09

SBC UAE

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Zurich - Finance minister Karin Keller-Sutter and her Saudi counterpart Mohammed Al Jadaan opened the fifth financial dialogue between the two nations on June 20 in Zurich. During the talks covering developments in the finance sector, there was a focus on financial stability.

The fifth bilateral financial dialogue between delegations from Switzerland and Saudi Arabia took place on June 20 in Zurich. The meeting was opened by Karin Keller-Sutter, member of the Federal Council, which is the Swiss federal government, and the Saudi finance minister Mohammed Al Jadaan, as the Federal Department of Finance (FDF) writes in a press release. During a working meeting as part of the financial dialogue, Keller-Sutter, the Swiss finance minister, and her Saudi counterpart exchanged views on developments in the financial sector and international financial and tax issues, with both parties emphasizing the importance of financial stability.

During the talks with Al Jadaan, Keller-Sutter also touched upon the importance of international collaboration. “Cooperation within the framework of international financial institutions plays a key role in preventing financial crises”, as the Swiss finance minister explains in the press release, adding that: “Switzerland actively contributes to this with its expertise and capitalizes on its cooperation with Saudi Arabia in multilateral bodies”.

During the fifth financial dialogue, the delegations from Switzerland and Saudi Arabia explained their respective assessments of the global economic situation. Among other aspects, global debt, the reform of global financial institutions and current developments in relation to the regulation and supervision of financial markets were discussed, according to the FDF press release. In addition, the talks focused on bilateral topics in banking and insurance as well as sustainable and digital finance. ce/hs

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