Saudi Gazette report
RIYADH — Finance ministers from a number of countries emphasized that the world needs to diversify supply chains, achieve greater energy self-sufficiency, invest in data centers, technology, and artificial intelligence. Attending a panel discussion at the 9th Future Investment Initiative (FII9) conference in Riyadh on Tuesday, they also called for conducting more joint trade between allied and friendly countries.

The dialogue session, titled "Sovereignty vs. Globalization," was attended by Qatari Finance Minister Ali bin Ahmed Al Kuwari, UK Chancellor of the Exchequer Rachel Reeves, and Turkish Finance Minister Mehmet Simsek. They emphasized the importance of forging international partnerships, investments, and technological security.

The ministers highlighted the importance of globalization, trade, artificial intelligence, and cooperation between countries, as well as the signing of technical agreements and direct partnerships to find solutions to economic crises. They also highlighted the importance of strengthening the work of multilateral organizations, especially given the years of hard work to build a rules-based system based on participation and cooperation.

"One of the UK government's priorities is to grow the economy. To achieve this, a solid foundation of stability is required, as is building relationships with important allies," said Rachel Reeves. She reviewed the UK's trade deals with a number of countries and the trade agreements that confirm its ability to compete.

For his part, Ali bin Ahmed Al Kuwari affirmed that Qatar is open to foreign direct investment, citing the 2022 World Cup as a major impetus for building Qatar's infrastructure and identity. He looked forward to capitalizing on this while continuing to work to attract international investment, especially as Qatar is one of the world's largest producers of liquefied natural gas. He emphasized the importance of cooperation with the entire world to build partnerships and direct investments, such as economic cooperation and trade agreements.

“Artificial intelligence and technology are integral to his country's strategy to diversify the economy, and that investing in artificial intelligence and energy is important and logical,” he said while noting that Qatar possesses distinct national capabilities in data, innovation, and aviation.

On his part, Mehmet Simsek highlighted the importance of countries investing in international and regional integration, given its benefits in strengthening risk-bearing areas such as energy and ensuring production security. He emphasized the importance of technology, health, security, artificial intelligence, data, and cybersecurity, which require further investment, noting the importance of working to mitigate risks before they occur.