Minister of Commerce and Industry addresses Arab economic forum

April 2, 2009

Saudi Minister of Commerce and Industry Abdullah Alireza expressed the Kingdom’s readiness to help ease the global financial crisis during remarks at the 17th session of the Arab Economic Forum in Beirut today.

"This crisis has shown how vulnerable auditing institutions are," Minister Alireza said, adding that such failures have had a strong negative impact on developing economies.

Referring specifically to the Middle East’s economic problems, he stressed the need to take a number of measures, including increasing trade and investment between Arab states and pumping more money into Arab and Islamic financial institutions. He also called for reviewing, and adjusting if necessary, Arab financial regulations.

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