Davos, Switzerland, January 17, 2024, The Kingdom of Saudi Arabia and the Organisation for Economic Co-operation and Development (OECD) have signed a Memorandum of Understanding (MoU) aimed at enhancing cooperation on various public policy initiatives. This collaboration spans areas such as the economy, tax, corporate governance, and sustainability.
The strategic partnership, formalized during the World Economic Forum (WEF) Annual Meeting 2024 in Davos, Switzerland, underscores Saudi Arabia's commitment to a solutions-oriented approach to multilateralism. The Kingdom aims to build balanced and collaborative institutional frameworks to foster sustained prosperity.
The collaboration will encompass joint research, information exchange, sharing statistical data, organizing meetings and events, and supporting Saudi Arabia's alignment with OECD standards. This alignment includes the evaluation and comparative analyses of policy practices. Currently, Saudi Arabia actively participates in nine OECD committees and adheres to seven OECD legal instruments. The expanded collaboration is set to deepen cooperation in policy areas, including public governance, regulatory policy, skills and education, corporate governance and finance, investment policy, anti-corruption, and trade facilitation.
The partnership reflects a joint commitment to principles of good governance, integrity, transparency, and evidence-based policymaking. As Saudi Arabia advances with Saudi Vision 2030, global collaborations, particularly with organizations like the OECD, will play a pivotal role in shaping policies that promote economic growth, environmental sustainability, and social development.
