In a recent panel discussion titled “Achieving Balance and Coordinating Fiscal and Monetary Policies” during the Saudi American Investment Forum 2025, Saudi Finance Minister Mohammed bin Abdullah Al-Jadaan and U.S. Treasury Secretary Steven Mnuchin underscored the significance of deepening the economic partnership between Saudi Arabia and the United States.
Minister Al-Jadaan emphasized the historical ties that have existed between the two nations for over 90 years. He highlighted the impressive scale of Saudi investments in the U.S., which reflects the robustness of their economic relationship. The minister pointed out that since the launch of Vision 2030, Saudi Arabia has experienced a notable influx of U.S. investments. This partnership, he noted, serves the interests of both parties while contributing to a reduction in reliance on oil.
Al-Jadaan elaborated on the strides Saudi Arabia has made in developing numerous economic and social indicators, which have advanced significantly and facilitated the achievement of many goals outlined in Vision 2030. Among these accomplishments are a record low unemployment rate of 7%, increased participation of Saudis in the labor market, substantial structural changes empowering women, and unprecedented growth in the tourism sector. The number of tourists has exceeded 100 million, meeting the target set for 2030, largely due to an array of attractive tourist destinations.
The finance minister reiterated Saudi Arabia’s aspiration to exchange expertise and acquire knowledge from the United States. This endeavor is seen as essential in fostering national economic development and enhancing the Kingdom’s regional and global stature.
In his response, Secretary Mnuchin expressed pride in the strong relationship between the U.S. and Saudi Arabia, conveying optimism about the future of global trade. He noted that the agreements reached between the countries are anticipated to yield noticeable economic improvements. Furthermore, he revealed that the U.S. administration aims to access the Chinese market for American goods, which would contribute to reestablishing a balance in the global economy.
The dialogue at the forum represented a significant step in reinforcing the longstanding alliance between the two nations, particularly in the context of evolving global economic conditions. Both leaders acknowledged the necessity of cooperation in addressing challenges that arise from an increasingly interconnected world.
Through their discussions, Al-Jadaan and Mnuchin laid the groundwork for future collaborations that promise mutual benefits. The emphasis on diversified investments, particularly in non-oil sectors, aligns closely with Saudi Arabia’s Vision 2030 goals, which aim to modernize the economy and reduce dependency on oil revenues.
Moreover, the vision includes empowering local businesses, enhancing job creation, and fostering innovation. This comprehensive approach is designed not only to bolster economic growth within Saudi Arabia but also to create a favorable business environment that attracts foreign investments, especially from the United States.
As both nations continue to navigate the complexities of international trade and economic policy, their partnership stands to play a pivotal role in fostering stability and growth on a global scale. The commitment to deepening this collaboration bodes well not only for the two countries involved but also for the international community as they collectively confront economic challenges and explore new avenues for trade and investment.
In conclusion, the dialogue between Saudi Arabia and the United States, as showcased in the recent forum, reflects a shared vision for a prosperous economic future. By capitalizing on historical ties and mutual interests, both nations aim to cultivate a more balanced and resilient global economic landscape.
