RIYADH: Trade and investment are essential drivers for the continued growth of emerging market economies, according to Saudi Arabia’s Minister of Economy and Planning Faisal Alibrahim.
Speaking at the opening of the second edition of the AlUla Conference for Emerging Market Economies, Alibrahim addressed a panel titled “Paper Session 1: Resettling Global Trade,” highlighting the importance of building resilient economies to withstand ongoing global challenges.
“Global trade is not coming to an end. Trade and investment are still central and crucial for a lot of economies, especially emerging market economies, and as such they will always pursue for trade to continue to flow,” Alibrahim said.
“We talked about re-allocation and I think that’s very important. But today, what we were used to, which is a rules-based market system, this is becoming under strain and then with this strain, we’re seeing that resilience is making a difference. Countries that are built or designed to be more resilient with institutional capabilities could fare better,” he added.
Alibrahim also noted that while advanced economies benefit from buffers and policy space, allowing them to better weather economic strains, emerging markets face more pressure to adapt swiftly.
