His Excellency the Minister of Finance, Mr. Mohammed Al-Jadaan, held a meeting on Wednesday, 8 March 2023, in the Korean capital, Seoul, with the Deputy Prime Minister and Minister of Economy and Finance of South Korea, His Excellency Mr. Cho Kyung-Ho.
During the meeting, they reviewed the bilateral economic relations between the two countries, and discussed the developments of the global economy, including the ongoing challenges faced by many low-income countries, such as high inflation rates, rising lending costs, and food insecurity. Topics related to international financial issues were also discussed, and the importance of stepping up the efforts to accelerate the implementation of the "Common Framework" initiative, which was launched during the Kingdom's G20 Presidency in 2020.
His Excellency Al-Jadaan also participated in roundtable discussions, organized by the National Center for Privatization with a number of investors and CEOs of Korean companies, in the presence of His Excellency the Minister of Lands, Infrastructure and Transport, Mr. Won Hee-ryong. Mr. Al-Jadaan highlighted the progress made under Vision 2030 to implement economic reforms and wide-ranging partnership projects between the public and private sectors. He explained the vast opportunities available in the Kingdom's privatization and partnership projects in different sectors, including construction, roads, water, and airports.
Mr. Al-Jadaan also held a meeting with the Chairman and President of the Export-Import Bank of Korea, Mr. Hee-Sung Yoon. They discussed the opportunities to enhance cooperation in common fields, in a way that contributes to raising the level of investment and trade between the two countries. Mr. Al-Jadaan also provided an overview of the recent economic developments in the Kingdom of Saudi Arabia, highlighting the positive outlook of the Saudi economy and favorable investment opportunities.