​His Excellency the Minister of Finance Dr. Ibrahim bin Abdulaziz Al-Assaf stresses that  the joint meeting of the finance ministers of the Gulf Cooperation Council (GCC) with H.E. US Treasury Secretary Jacob Lew, falls within the framework of the agreement between the leaders of the Gulf Cooperation Council (GCC) and US President Barack Obama to strengthen strategic ties between the two sides. He pointed out that there are other joint committees between the GCC countries and the United States of America.

His Excellency explained in a statement today after chairing the joint meeting of finance ministers Gulf Cooperation Council with H.E. US Treasury Secretary in Riyadh, that the meeting has focused on the financial aspects and financial, economic relations; cooperation between the Council and the United States of American.

He pointed out that a number of agreements have been made and they will complete the discussion of some issues that GCC countries would like to be considered and agreed upon with the United States at the next meeting. These issues include the promotion of trade between the two sides, and the possibility of a free trade agreement between the GCC countries and the United States, as well as the agreement on the avoidance of double taxation between the countries, stressing the importance of such agreements to promote investment and joint trade.

​H.E. Dr. Al-Assaf added that they discussed during the meeting a number of important issues between the GCC countries and the United States where some of them are shared between the GCC countries and other countries, for example, "correspondent banking", pointing out that there are measures have been taken in the United States restrict the correspondent of banks in some of world countries that includes the GCC countries with the American banks.

H.E. the Minister said, " the Convention on the Law of JUSTA was addressed, and we urged the financial administration to curb the serious impacts of this law, which affects the United States as well as other countries of the world."

His Excellency pointed out that they discussed economic developments and the promotion of global economic growth for the benefit of countries, in addition, they agreed to continue holding such meetings, where the next meeting of finance ministers of the Gulf Cooperation Council with the US administration will be prepared by both parties.

His Excellency valued, as he concluded his statement, the role played by His Excellency the US Treasury Secretary, and his keenness to strengthen cooperation between the GCC and the United States .